Picture courtesy of Bangkok Post
Thailand’s Manufacturing Production Index (MPI) is projected to decline by 1% this year, according to the Office of Industrial Economics (OIE).
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Thailand’s Manufacturing Production Index (MPI) is projected to decline by 1% this year, according to the Office of Industrial Economics (OIE). The contraction is attributed to various economic issues and the severe flooding experienced in recent months.
OIE Director-General Warawan Chitaroon indicated that the best possible outcome for MPI growth is to remain flat. The office had previously adjusted its MPI growth forecast for next year from a range of 2% to 3% to 0% to 1%, but this was further revised yesterday, September 26 to between -1% and 0%.
From January to August, the MPI saw a year-on-year increase of 1.55%, with a capacity utilisation rate of 58.9%. However, the floods in North Thailand contributed to a 1.91% year-on-year decline in the August MPI, dropping it to 95.08 points.
The floods disrupted travel, transportation of goods, and…