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BANGKOK 19 July 2019 02:51
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Thai May factory output falls 3.99% y/y, worse than forecast

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Thai May factory output falls 3.99% y/y, worse than forecast

 

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BANGKOK - Thailand’s manufacturing production index (MPI) in May dropped 3.99% from a year earlier, dragged by lower production of cars and rubber products, the Industry Ministry said on Tuesday.

 

That compares with a forecast fall of 0.1% in a Reuters poll, and against April’s 2.03% gain.

 

Capacity utilisation was at 67.72% in May, compared with 63.89% in April. April had fewer work days due to holidays.

 

The ministry expects the MPI to rise 2% this year, after last year’s 2.8% increase. 

 

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-- © Copyright Reuters 2019-06-25
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A considerable proportion of new cars sold in Australia are manufactured in Thailand. Sales are down along with consumer confidence across the board.

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Given the decline in car output in other countries, I would expect further falls.  Even teflon Thailand is not immune.  It appears that the global slowdown has finally hit home.  

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19 minutes ago, ukrules said:

The more expensive things become, the less business they will do.

 

For some reason the Baht continues to rise against the currencies of their trading partners, this will result in a decimation of exports and eventually tourism.

It's not the baht going up it's the dollar and pound going down.

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18 minutes ago, mommysboy said:

Given the decline in car output in other countries, I would expect further falls.  Even teflon Thailand is not immune.  It appears that the global slowdown has finally hit home.  

Well you can cook the books but you can just as easily discover that they have been overdone.

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3 minutes ago, geoffbezoz said:

Well you can cook the books but you can just as easily discover that they have been overdone.

The value of the baht is determined in a free market.  No way to cook the books.  If the baht was controlled by the government and not floating you might have a point.  

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40 minutes ago, trainman34014 said:

But still the Baht will keep rising !

Sure, so the elite can go abroad and spend their ill gotten gains buying football clubs

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Posted (edited)
2 minutes ago, marcusarelus said:

The value of the baht is determined in a free market.  No way to cook the books.  If the baht was controlled by the government and not floating you might have a point.  

So export figures, balance of payments have no influence on a currency ? all government figures open to manipulation or perhaps just not in Thailand ?

Edited by geoffbezoz
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