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
Subscribe via Email
Thailand’s COVID-19 response: an example of resilience and solidarity
Gita Sabharwal, the UN Resident Coordinator in Thailand, explains COVID-19 response success in the country thanks to a combination of...
Thailand’s GDP to shrink from 9.4 to 11.4 percent
The Thai Chamber of Commerce (UTCC) has predicted that the Thai GDP this year will shrink between 9.4 to 11.4...
Covid-19: Thailand reports 10 weeks without local transmission
According to the Centre for Covid-19 Situation Administration (CCSA), Thailand has recorded zero new locally-contracted cases for 10 weeks.
Thai economy improved in June says Bank of Thailand
In June 2020, the Thai economy improved from the previous month due to the gradual relaxation of lockdown measures both...
Gold rush hits Thailand as prices surge
The value of gold has rocketed by Bt7,000 per baht weight since the beginning of this year, generating returns of...
April International Care announces raft of enhancements to MyHEALTH Singapore
APRIL International Care has announced significant improvements to its MyHEALTH Singapore private international health insurance policy range