snoop1130 Posted June 25, 2019 Share Posted June 25, 2019 Thai May factory output falls 3.99% y/y, worse than forecast 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. -- © Copyright Reuters 2019-06-25 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
geoffbezoz Posted June 25, 2019 Share Posted June 25, 2019 The fact it is a large drop from that previously forecast seems to add further evidence that the Junta staffed with inept Generals are totally out of touch with economic reality and are incompetent in all areas other than graft, the only business stream in which they apparently excel. Link to comment Share on other sites More sharing options...
trainman34014 Posted June 25, 2019 Share Posted June 25, 2019 But still the Baht will keep rising ! Link to comment Share on other sites More sharing options...
DrTuner Posted June 25, 2019 Share Posted June 25, 2019 And the worst thing is the junta spin factory must've run out of hands because many of these articles now go without their obligatory "honest taxi driver" counterpart. Shocking! Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 8 minutes ago, trainman34014 said: But still the Baht will keep rising ! When exports go down so will the baht. Link to comment Share on other sites More sharing options...
Lacessit Posted June 25, 2019 Share Posted June 25, 2019 A considerable proportion of new cars sold in Australia are manufactured in Thailand. Sales are down along with consumer confidence across the board. Link to comment Share on other sites More sharing options...
ukrules Posted June 25, 2019 Share Posted June 25, 2019 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. Link to comment Share on other sites More sharing options...
mommysboy Posted June 25, 2019 Share Posted June 25, 2019 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. Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 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. Link to comment Share on other sites More sharing options...
geoffbezoz Posted June 25, 2019 Share Posted June 25, 2019 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. Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 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. Link to comment Share on other sites More sharing options...
ChipButty Posted June 25, 2019 Share Posted June 25, 2019 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 Link to comment Share on other sites More sharing options...
geoffbezoz Posted June 25, 2019 Share Posted June 25, 2019 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 ? Link to comment Share on other sites More sharing options...
RichardColeman Posted June 25, 2019 Share Posted June 25, 2019 I guess 4% is too high, Here's a 1000 baht , knock off 0.01% Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 22 minutes ago, geoffbezoz said: So export figures, balance of payments have no influence on a currency ? all government figures open to manipulation or perhaps just not in Thailand ? Sorry no one in Thailand capable enough to fool the international currency speculators. Con the currency markets? Too big too much information. That's why China is in the doghouse. The growth and other important financial data are available to everyone who knows how to look. I suppose the Thai gnomes are also controlling Brexit and the Federal reserve rates. Link to comment Share on other sites More sharing options...
geoffbezoz Posted June 25, 2019 Share Posted June 25, 2019 4 minutes ago, marcusarelus said: Sorry no one in Thailand capable enough to fool the international currency speculators. Con the currency markets? Too big too much information. That's why China is in the doghouse. The growth and other important financial data are available to everyone who knows how to look. I suppose the Thai gnomes are also controlling Brexit and the Federal reserve rates. Well to the contrary they are and they have. And what has Brexit got to do with this thread ? Link to comment Share on other sites More sharing options...
Reigntax Posted June 25, 2019 Share Posted June 25, 2019 1 hour ago, DrTuner said: And the worst thing is the junta spin factory must've run out of hands because many of these articles now go without their obligatory "honest taxi driver" counterpart. Shocking! No. The junta spin factory increased output by 150% y/y Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 11 minutes ago, geoffbezoz said: Well to the contrary they are and they have. And what has Brexit got to do with this thread ? Thai currency is going up relative to the pound and dollar not because of Thailand strength but British and American currency weakness. If Thailand has ever fooled the currency market please post a link because I remember when they floated the baht. Link to comment Share on other sites More sharing options...
geoffbezoz Posted June 25, 2019 Share Posted June 25, 2019 12 minutes ago, marcusarelus said: Thai currency is going up relative to the pound and dollar not because of Thailand strength but British and American currency weakness. If Thailand has ever fooled the currency market please post a link because I remember when they floated the baht. Well I should think most of us can remember that flotation, or should I say a deliberate devaluation as it was only 22 years ago. After that and the IMF support it took the economic acumen of Thaksin and his aides to repay that debt which to this day I believe is the only country to have repaid an IMF support function early. However all that was a result of a deliberate overheated economy of the decade prior. Manipulation did not work then and sure as eggs are eggs with the current crop of crooks, history could well repeat itself in some respects. Link to comment Share on other sites More sharing options...
Plus Esse Quam Simultatur Posted June 25, 2019 Share Posted June 25, 2019 The European Union just signed a huge trade deal with Vietnam today, I will let you guess the reason why it wasn't with Thailand Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 2 minutes ago, geoffbezoz said: Well I should think most of us can remember that floatation, or should I say a deliberate devaluation as it was only 22 years ago. After that that and the IMF support it took the economic acumen of Thaksin and his aides to repay that debt which to this day I believe is the only country to have rapid an IMF support function early. However all that was a result of a deliberate overheated economy of the decade prior. Manipulation did not work then and sure as eggs are eggs with the current crop of crooks, history could well repeat itself in some respects. Like I said Thailand never fooled anyone. Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 Just now, Plus Esse Quam Simultatur said: The European Union just signed a huge trade deal with Vietnam today, I will let you guess the reason why it wasn't with Thailand Thailand aware of the future of the UK with a no deal Brexit? Am I right? Link to comment Share on other sites More sharing options...
marcusarelus Posted June 25, 2019 Share Posted June 25, 2019 12 minutes ago, RobboR said: They do, the money held in foreign reserves could be used for infrastructure but instead is held so they can control & manipulate their currency. Also they put restrictions on liquidity on a daily basis https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/Measure_to_Prevent_ThaiBaht_Speculation/Pages/default.aspx Thailand does not manipulate it's currency ask those who know, "If we had done so, our baht would not be like this," Bank of Thailand governor Veerathai Santiprabhob said. They don't want it high as it's killing exports and Thailand's economy depends on exports and tourism both of which tank if the currency rises. Link to comment Share on other sites More sharing options...
DrTuner Posted June 25, 2019 Share Posted June 25, 2019 1 hour ago, Plus Esse Quam Simultatur said: The European Union just signed a huge trade deal with Vietnam today, I will let you guess the reason why it wasn't with Thailand Interesting. https://www.consilium.europa.eu/en/press/press-releases/2019/06/25/eu-vietnam-council-adopts-decisions-to-sign-trade-and-investment-agreements/ It's been in the works for a long time but was delayed because of the commie issues. Looks like EU bit the bullet and got in bed with them. Link to comment Share on other sites More sharing options...
elliss Posted June 25, 2019 Share Posted June 25, 2019 3 hours ago, trainman34014 said: But still the Baht will keep rising ! But still gbp keeps falling . Thai economy remains stronger than most western countries, and will survive . Junta , has brought stability to Thailand , no opposition. Democracy at its best .. Link to comment Share on other sites More sharing options...
elliss Posted June 25, 2019 Share Posted June 25, 2019 3 minutes ago, RobboR said: You do know who drained 40 billions dollars out recently don't you? I'm pretty sure they wanted a good fx to fund their salubrious lifestyle! Source of your imagination ... Link to comment Share on other sites More sharing options...
elliss Posted June 25, 2019 Share Posted June 25, 2019 1 minute ago, RobboR said: It's common knowledge and the documentation is there to see. Wow , where ?? .. you have 39 posts under your belt , do us a favour. asap . Link to comment Share on other sites More sharing options...
DrTuner Posted June 25, 2019 Share Posted June 25, 2019 5 minutes ago, RobboR said: Learn the language for pete's sake and read the REAL thai forums The last thing I'd trust are Thai forums. Handle with extreme prejudice. Yes I can read enough to wade through if I get a mean streak of masochism. Link to comment Share on other sites More sharing options...
djayz Posted June 25, 2019 Share Posted June 25, 2019 2 hours ago, RobboR said: You also get to find out how much Thais hate foreigners!! I actually enjoyed reading, and foolishly "liked" a few of your posts, right up until your final comment... Saying that Thais hate foreigners from comments you've stumbled across from a few anonymous sites, is like saying foreigners hate Thais based on comments you'd read here on this site. Most of 'em are too busy either (i) on social media, (ii) trying to look like they have more than they really have or (iii) too worried about the mountain of debt they are smothering under to give a rat's ar$e about you or I. Get over yourself - you're not the center of attention here. Link to comment Share on other sites More sharing options...
khunpa Posted June 25, 2019 Share Posted June 25, 2019 2 hours ago, RobboR said: You also get to find out how much Thais hate foreigners!! With your 40 posts and "sharp" comments, I am wondering how many years, you actually have lived here? Got a Thai-wife and family here? Own a business here? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.