Production index dips 4.3% in October
Thailand’s Manufacturing Production Index (MPI) decreased by 4.29% year-on-year in October to 89.4 points as people become more careful spending amid sluggish Thai and global economies.
The Thai economy has not fully recovered and interest rates remain high, said Siripen Kiatfuengfoo, deputy director-general of the Office of Industrial Economics (OIE).
The National Economic and Social Development Council previously cut its outlook for Thai GDP growth this year to 2.5% after a third-quarter gain of only 1.5%. On Wednesday, the Bank of Thailand’s Monetary Policy Committee voted to maintain its policy rate at 2.5%, the highest level in a decade.
Bangkok Post Reporter
