BANGKOK, July 30 (TNA) — The manufacturing production index fell 5.54% year-on-year in June, the biggest drop in 29 months.
Revealing the index, Aditad Vasinonta, deputy director-general of the Office of Industrial Economics, said the decline resulted from the continuous slowdown of the global economy and trade. The June’s index resulted in the MPI in the second quarter of this year to shrink by 2.64% year-on-year, he said.
A main negative factor behind the decline was the automotive industry. Mr Aditad said automobile production fell 8.52% in June due to a decline in local sales that resulted from strict control on auto finance. The local automobile manufacturing dropped for the first time in 30 months. However, automobile exports rose 2.4% in the same period.
Positives factors for MPI were palm oil, air-conditioners and parts, pharmacy, chemical products for medical treatment, non-alcoholic beverages and beer.
Main factors behind manufacturing in July were the global economic and trade slowdown, the trade war between China and the United States, the declining import of raw materials except gold, and drought, Mr Aditad said. (TNA)
