Economic Buzz: Hongkong PPI And CPI Falls
Capital Market / 03:27 PM , Sep 14, 2009
The Census & Statistics Department of Hong Kong announced that output in the manufacturing sector dropped 9.5% year-on-year in the second quarter, following the 10.1% fall in the first quarter. Output has been falling since the third quarter of 2006 and the most severe decline of 10.6% was recorded in the final quarter of 2008. Decreases in output were recorded for all industry groups. The apparel industry witnessed the largest annual decrease in output, down 30.3% in the second quarter, followed by the textiles industry, down 23.6%. Quarter-on-quarter, industrial output decreased a seasonally adjusted 1% in the second quarter.
