Thai factory November output seen slipping 7.1% year-on-year, set for seventh month of fall

 

People shop inside a supermarket in Bangkok July 11, 2016. Picture taken July 11, 2016. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's annual manufacturing output likely fell for the seventh straight month in November, but at a slower pace than in the previous month, a Reuters poll showed on Tuesday.

 

The manufacturing production index likely fell 7.1% in November from a year earlier, after 8.45% contraction in October, according to the median forecast of six economists.

 

Industrial goods exports, which account for about 80% of Thailand's total shipments, dropped 6.4% in November from a year earlier.

 

Exports have been affected by global trade tensions and the strength of Thai baht <THB=TH>, Asia's best performing currency this year so far.

 

(Reporting Satawasin Staporncharnchai; Editing by Orathai Sriring and Rashmi Aich)

 

-- © Copyright Reuters 2019-12-25

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13 minutes ago, webfact said:

strength of Thai baht 

Self-destructive people the Thais.

Lets call it More flat growth.

Report such a large drop in the UK and Sterling would plummet .....yet THB...amazing Thailand

16 minutes ago, Destiny1990 said:

Lets call it More flat growth.

Hmmm. Output continuing to fall. Prayuth urging faster disbursement even though the budget is not in place (that topic is closed, presumably lest anyone should suggest the government is panicking), they cannot find a way to weaken the baht, and the news just keeps-a-coming

 

Something's up at mill. I strongly suspect the Thai economy is shot but sshhhhh - don't tell anyone - not allowed. Time for more popcorn, maybe the curtain is moving.

 

Future Forward will get the blame, see if they don't.

Edited December 25, 20196 yr by ParkerN

9 minutes ago, baansgr said:

Report such a large drop in the UK and Sterling would plummet .....yet THB...amazing Thailand

No it would not.. i guess economics is not your strongest subject. 

 

The value of a currency is dependent on money flows and there still flows more foreign currency in then out. 

 

This could affect it if it get worse but for now it still had not. 

 

Your exports could drop and as long as you still got a positive amount in foreign currencies there is no problem. 

 

Like most id love to see a lower baht but it needs to get worse.

Million pictures of Thai factories on the net and editor chooses Big C ? 

"Exports have been affected by global trade tensions and the strength of Thai baht <THB=TH>, Asia's best performing currency this year so far."

 

...adding "Asia's best performing currency this year so far" does not make the situation magically better.

15 minutes ago, DLock said:

adding "Asia's best performing currency this year so far" does not make the situation magically better.

But it sounds a whole lot better than admitting we've screwed up the economy!

Which is starting to prove itself as companies cut-back or close down, next year is going to see a lot of small to medium companies, mostly privately owned calling it a day before the family finances disappear!

and yet the government still in denial claiming all is well and a strong economy

the strong baht has done the damage,has the message got thru to the powers to be yet.less tourist and buying thai product from abroad.

Tomorrow's headlines will be "Year on year increase in factory output!"  Standing by for the dueling tourism narrative.