Thailand's industrial output sinks further in September
Source: Xinhua | 2024-10-31 | Editor:Ines
Thailand's industrial output continued to sink in September due to falling auto production, high production costs and weak domestic demand, official data showed on Wednesday.
The manufacturing production index (MPI) fell 3.51 percent last month from a year earlier, accelerating from a revised 1.79 percent decrease in August and marking the seventh time contraction so far this year, according to the Ministry of Industry.
For the first nine months of 2024, the MPI dipped 1.75 percent year-on-year as auto production plunged for the 14th straight month amid a sluggish economy, high household debt and toughened lending policies, the ministry said in a statement.
However, the government's stimulus measures, including cash handouts to vulnerable groups, and an ongoing expansion in the tourism sector remained supportive factors.
In September, the ministry adjusted its MPI projection to decrease between 1 percent and 0 percent this year, from a rise between 0 percent and 1 percent expected earlier.
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