MPI in June falls by 6.6 percent

BANGKOK, 30 July 2014 (NNT) - The Office of Industrial Economics (OIE) has revealed that the manufacturing production index (MPI) for June 2014 declined by 6.6 percent compared to the same period last year.

OIE Director Somchai Hanhiran said that the capacity utilization rate stood at 60.61 points due to an overall decline in the production of automobiles, hard disk drives, garment, jewelry, and air conditioners.

Apart from that, the previous administration’s first-car scheme that took effect in 2013 resulted in a lower output in automobile production for the year of 2014.

The figures are expected to improve by the end of this year, however, largely due to government spending on mega infrastructure projects.

The OIE has forecast that Thailand’s GDP would expand by 1-2 percent for this year, which is lower than the 2.0 to 2.5 percent forecast earlier.


-- NNT 2014-07-30

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