Thailand’s manufacturing production index (MPI) in April fell for the first time this year, dipping to its lowest level in 12 months to 95.91 points because of a sagging global economy and the US-China trade war denting Thai exports.

Both global and domestic economies have been weak, in part due to the trade war, which if prolonged would be manufacturers’ worst-case scenario.

Aditad Vasinonta, deputy director-general of the Office of Industrial Economics (OIE), said the government has cut the country’s industry GDP growth target to 1.5-2.5% this year from an expected target of 2-3%. But the MPI index in April rose by 2.03% year-on-year.

“The OIE revised its MPI index for the first time this year following the global economic slump and economic indicators,” Mr Aditad said. Agency says April MPI reading was lowest in 12 months | Bangkok Post: business

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

Household debt surges to 87% of GDP in Q4 2022

Household debt is not only a problem for individuals, but also for the whole economy. It reduces domestic demand, which is a key driver of growth. It also increases financial vulnerability, as households may default on their loan

BOT Maintains 2023 GDP Forecast at 3.6%

The Thai economy is expected to continue expanding, driven mainly by recovery in the tourism sector, which should, in turn, boost labor income and private consumption.

Thai Inflation Falls for Fifth Straight Month

Thailand’s inflation rate fell for the fifth straight month in May amid lower electricity and fuel prices. However, experts warned that inflation could rebound due to a possible increase in minimum wages and the upcoming drought season.