July's MPI falls 3.23 per cent
The manufacturing production index (MPI) in July stood at 100.07 points, dropping 3.23 per cent year on year as the global economy dropped off with a capacity utilisation of 65.68 per cent, said Aditad Vasinonta, deputy director-general of the Office of Industrial Economics (OIE).
The decline in MPI could be attributed to three factors: 1) industrial product exports expanded by just 0.004 per cent during the month; 2) car production in July fell 6.7 per cent for the third drop in three consecutive months with domestic sales and exports falling 1.1 per cent and 8.9 per cent respectively; 3) Industries Sentiment Index (TISI) dropped in July to 93.5 points from 94.5 points in June, the lowest in seven months.
Industries with the biggest impact on Thailand's MPI are distilleries, non-alcohol beverages, air conditioner, palm oil, and furniture.
OIE forecast the MPI will expand by 0.5 per cent, in line with the indicators of industrial growth rate.
