Economic Indicators

Thai July factory output falls more than forecast as exports slump

2023.08.31 01:42


© Reuters. FILE PHOTO: A labourer works at a garment factory in Bangkok, Thailand, May 30, 2016. REUTERS/Athit Perawongmetha/File Photo

BANGKOK (Reuters) – Thailand’s factory output shrank slightly more than expected in July as sluggish global demand pinched exports, a ministry official said on Thursday.

The manufacturing production index (MPI) fell for a 10th straight month in July, down 4.43% from a year earlier, compared with a forecast in a Reuters poll for a drop of 4.0% for July.

Output has been impacted by a global economic slowdown, although domestic consumption has increased due to strong tourism, the industry ministry said.

“Domestic factors have largely signalled a slowdown,” Warawan Chitaroon, head of the ministry’s Office of Industrial Economics, told a press briefing.

“We expect that in the last quarter of this year, after October, there should be signs of improving in the short term. But in the big picture, it is still in a downtrend.”

In the January-July period, factory output contracted 4.54% year-on-year. Industrial goods account for about 80% of total exports, which have declined for 10 consecutive months.

The ministry on Thursday cut its 2023 MPI forecast to a fall of 2.8% to 3.8%, from a previous forecast of zero to 1% growth.

Thailand’s customs-based exports contracted 6.2% in July from a year earlier, compared with analysts expectation of a dip of 0.75%. Exports had slumped 10.8% from June, a 10th month of falls.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 95,148.49 1.71%
ethereum
Ethereum (ETH) $ 3,488.58 4.30%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 240.27 4.16%
bnb
BNB (BNB) $ 645.92 1.47%
xrp
XRP (XRP) $ 1.47 4.20%
dogecoin
Dogecoin (DOGE) $ 0.406437 3.75%
usd-coin
USDC (USDC) $ 1.00 0.02%
cardano
Cardano (ADA) $ 1.00 0.48%
staked-ether
Lido Staked Ether (STETH) $ 3,486.22 4.34%
avalanche-2
Avalanche (AVAX) $ 42.70 5.51%
tron
TRON (TRX) $ 0.199125 3.49%
the-open-network
Toncoin (TON) $ 6.20 1.61%
stellar
Stellar (XLM) $ 0.518868 9.44%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 2.33%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,124.95 4.50%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 94,846.41 1.70%
polkadot
Polkadot (DOT) $ 8.53 1.40%
chainlink
Chainlink (LINK) $ 18.05 4.98%
weth
WETH (WETH) $ 3,481.19 4.10%
bitcoin-cash
Bitcoin Cash (BCH) $ 506.59 0.07%
sui
Sui (SUI) $ 3.20 4.87%
pepe
Pepe (PEPE) $ 0.000019 2.47%
near
NEAR Protocol (NEAR) $ 6.67 1.28%
leo-token
LEO Token (LEO) $ 8.24 2.51%
litecoin
Litecoin (LTC) $ 95.48 1.12%
uniswap
Uniswap (UNI) $ 11.51 8.59%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,669.63 4.28%
aptos
Aptos (APT) $ 12.17 0.60%
internet-computer
Internet Computer (ICP) $ 11.92 7.14%
hedera-hashgraph
Hedera (HBAR) $ 0.138793 4.64%
usds
USDS (USDS) $ 1.00 0.05%
crypto-com-chain
Cronos (CRO) $ 0.184248 2.46%
ethereum-classic
Ethereum Classic (ETC) $ 31.04 10.01%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.574653 4.64%
render-token
Render (RENDER) $ 7.81 1.54%
bittensor
Bittensor (TAO) $ 544.64 6.61%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
arbitrum
Arbitrum (ARB) $ 0.944548 13.47%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.47 1.50%
kaspa
Kaspa (KAS) $ 0.151225 0.22%
celestia
Celestia (TIA) $ 8.36 4.77%
dai
Dai (DAI) $ 1.00 0.10%
whitebit
WhiteBIT Coin (WBT) $ 24.03 1.19%
filecoin
Filecoin (FIL) $ 5.70 2.61%
vechain
VeChain (VET) $ 0.041749 2.90%
bonk
Bonk (BONK) $ 0.000045 7.52%
blockstack
Stacks (STX) $ 2.17 10.11%
dogwifcoin
dogwifhat (WIF) $ 3.23 3.32%
okb
OKB (OKB) $ 53.56 0.10%