Thai factory output rises for first time in 19 months

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Thai factory output rises for first time in 19 months

By The Nation

 

 

Thailand’s manufacturing production index (MPI) rose 0.35 per cent in November from a year earlier, for its first annual increase in 19 months.

 

The index also rose 1.77 per cent from last month driven by a 10.2 per cent growth in auto manufacturing, said the Industry Ministry.

 

The figures showed Thai manufacturing was on the path to recovery after being hit by the trade war and Covid-19 outbreak, said Thongchai Chawalitpichaet, director-general of the ministry’s Office of Industrial Economics. 

 

Global economy recovery aided by stimulus packages had boosted orders for Thai-made products, resulting in a smaller export contraction of 0.87 per cent last month, he added.

 

He expects December’s PMI to match November’s level, if authorities can contain the latest virus outbreak.

 

Overall in 2020, the PMI is expected to contract by 8 per cent but then grow by 4-5 per cent next year, he said.

 

The manufacturing sector is expected to contract 7 per cent this year, then expand 4-5 per cent next year, based on an exchange rate of Bt29-32 per dollar and crude oil at US$40 to $50 per barrel, he added.

 

Source: https://www.nationthailand.com/business/30400436

 

 

-- © Copyright The Nation Thailand 2020-12-30

 

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[Scot123]

Is it really that or is it worse? Manufacturing normally rises upto 25%+ at that time of year Oct-Dec due to Christmas. And this showere of incompetence are crowing over what really is a crash!!!