Auto output revs up

This was the best annualised acceleration since May 2013, according to Reuters.
FTI chairman Chen Namchaisiri said yesterday that production for export in May rose 22.1 per cent year on year to 98,202 units, but total production for export from January to May was still down 0.4 per cent at 493,493 units.
Production for domestic sales climbed 28.4 per cent to 70,192 units in May, and 11.15 per cent to 320,012 units in the first five months.
Domestic car sales in May improved only 15.9 per cent year on year to 66,019 units, because of the slow economic recovery.
Domestic sales from January to May were still off 2 per cent at 302,565 units.
The export of finished cars in May edged up 11.9 per cent year on year to 99,547 units, but their value soared 26.3 per cent to Bt54.99 billion.
According to a survey of 48 top executives in industry, 60.4 per cent of the respondents believed that the economy in the second half of this year would be flat compared with the same half last year.
However, 25 per cent expected the economy to be better in the second half, while 12.5 per cent predicted the economy to be more sluggish.
About 2.1 per cent did not give any forecast, saying the economy will depend on the political situation.
The survey was conducted by the National Institute of Development Administration and the FTI from May 23 to June 10.
About 56.2 per cent of the respondents think industry in the second half will be flat, while 27.1 per cent looked for an expansion.
However, 16.7 per cent feel that industry in the second half will be more sluggish.
As for key factors driving the economy, 56.2 per cent noted government spending on basic infrastructure, especially transport, and half pointed to the government’s stimulus measures, such as the Pracha Rath project.
About 41.7 per cent cited the continuous growth of local tourism, while 33.3 per cent nominated the peaceful political situation in the country.
Regarding their concerns, 62.5 per cent suggested the slowdown of China’s economy and the slow economic recovery of developed countries, 52.1 per cent were still worrying about the decline of purchasing power, and 37.5 per cent named the drought.
About 35.4 per cent raised the political unrest, while 31.2 per cent are still bothered by the high level of household debt.