Thailand’s industrial output returns to growth in July

BANGKOK, Aug. 30 (Xinhua) — Thailand’s industrial output increased for the first time in three months in July, thanks to substantial growth in exports, a recovery in the vital tourism sector and an upsurge in government spending, official data showed on Friday.
The manufacturing production index (MPI) rose 1.79 percent last month from a year earlier, rebounding from a revised 1.63 percent contraction in June, according to the Ministry of Industry.
The improvement was attributed to a major rise in the production of palm oil, air conditioning and rubber-related products, despite decreases in automobiles, electronics and concrete product manufacturing, the ministry said in a statement.
For the first seven months of 2024, the MPI fell 1.48 percent year-on-year as the Thai industrial sector continued to face challenges from weak domestic demand, rising production costs, along with high household debt and interest rates, said the ministry’s Office of Industrial Economics Deputy Director-General Krit Chansuwan.
The ministry maintains its MPI projection to range between 0 and 1 percent this year, Krit told a news conference. ■