Thailand's manufacturing production index (MPI) is expected to grow by 4-5% this year, up from an earlier forecast of 2-3% made by the Office of Industrial Economics (OIE), due mainly to fast-growing exports.
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Industry Ministry to revise MPI amid gains
Cautious optimism as export trend shaky
published : 29 Jun 2021 at 05:47 Workers at an automotive plant in Chon Buri province. Somchai Poomlard
The Industry Ministry may revise up its 2021 manufacturing production index (MPI) in July after it increased by 25.8% in May and reached 100.47 points year-on-year, the highest increase in five years since 2016, says the Office of Industrial Economics (OIE).
Despite the need to keep a close watch on the third wave of Covid-19, which is affecting many factories, Industry Minister Suriya Jungrungreangkit remains optimistic, saying factories have only shut down some production temporarily and this will not have a serious impact on the sector.
Thailand saw its manufacturing production index (MPI) increase in April by 18.46% year-on-year to 91.88 points, however, capacity utilisation decreased due in part to the impact of the third wave of Covid-19.
A health worker administers a dose of the CoronaVac Covid-19 vaccine, developed by Chinas Sinovac Ltd., to an Airports of Thailand Pcl employee at a vaccination site set up at a near-empty Suvarnabhumi Airport in Bangkok, Thailand, on Friday, April 30, 2021. Thailand is reworking its vaccine strategy as a month-long soft lockdown to contain its worst wave of Covid-19 infections deepens an economic crisis and risks plans for reopening the crucial tourism industry. - Bloomberg
BANGKOK, April 28 (Xinhua): Thailand s manufacturing production index (MPI), a gauge of manufacturing activity, rose for the first time in 23 months to 107.73 in March, the highest level in two years, official data has showed.