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