Manufacturing Production Index in March Contracted by 2.54 % Year On Year.
30-4-2019–Today The Office of Industrial Economics (OIE) revealed that the Industrial Production Index (MPI) in March 2019 remained strong despite being affected by the slowing global economy and hot weather that resulted the decrease in agricultural products.
The manufacturing production index in March contracted by 2.54 % compared to the same period of last year. Suggested to keep an eye on the CLMV export market which continued to grow for 27 months.
Mr. Itthichai Yosri, Deputy Director of the Office of Industrial Economics (OIE) revealed that the Industrial Production Index (MPI) in March 2019 remained strong despite being affected by the hot weather that resulted in agricultural products which are the raw materials in the food processing industry have decreased, including the reduction of the IMF’s global economic forecast due to the global economic slowdown.
The Industrial Production Index in March contracted by 2.54 percent compared to the same period of last year, causing the Industrial Production Index in the first quarter of 2019 contracted by 1.13 percent compared to the same period of last year.
However, the market should keep watching in CLMV countries due to the tax reduction, according to the AFTA agreement of 0% in the CLMV group since January 2018 due to the export of Thai industrial products(Excluding gold) to CLMV countries, which grew by 5.1 percent compared to the same period last year. Expanded for 27 consecutive months by major industries that have positive impact on MPI in March 2019, including cars and engines Petroleum oil, pharmaceuticals, dairy products and palm oil.
