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Thai December factory output falls 2.44% year-on-year after new outbreak


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Thai December factory output falls 2.44% year-on-year after new outbreak

 

2021-01-27T055543Z_1_LYNXMPEH0Q09Z_RTROPTP_4_THAILAND-ECONOMY-TRADEFIGURES.JPG

FILE PHOTO: Shipping containers stand at a port in Bangkok, Thailand, March 25, 2016. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's manufacturing output in December dropped a bigger- than-expected 2.44% from a year earlier as a fresh wave of COVID-19 infections hit business activity, the industry ministry said on Wednesday.

 

The reading was worse than a 1.2% fall forecast in a Reuters poll, and a revised 0.2% rise in November.

 

However, the manufacturing production index (MPI) should turn positive in January as the government has quickly taken action to contain the new spread and exports are expected to improve, ministry official Thongchai Chawalitpichaet told a briefing.

 

On Wednesday, Thailand reported 819 new infections, with most of the cases found in a province that is the epicentre of the latest outbreak detected last month, following mass testing.

 

The December MPI index was dragged down by lower production of petroleum, sugar and rubber, although production of electronics, cars and tyres increased.

 

Capacity utilisation was 63.77% after November's revised 65.43%. Industrial goods make up about 80% of total exports, a key driver of Thai growth.

 

The ministry forecast the MPI index would increase 4%-5% in 2021 after contracting 8.8% last year.

 

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Subhranshu Sahu)

 

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-- © Copyright Reuters 2021-01-28
 
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3 hours ago, webfact said:

However, the manufacturing production index (MPI) should turn positive in January as the government has quickly taken action to contain the new spread and exports are expected to improve, ministry official Thongchai Chawalitpichaet told a briefing.

More hand wringing to come as January is almost over and the spread has continued, along with the closures have yet to be lifted as of today.  Better wait until April to see if the 1st qtr 2021 had an uptick.  These monthly stories do not tell the true numbers and only fuel foolish speculation.  It is like playing roulette where you have a good chance of either red or black, but then a green 00 or 0 shows up and screws the entire plan.....

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3 hours ago, sammieuk1 said:

Good job all this never ending bad news never has a negative impact on the Baht or it would be worthless by now 🤔

Teflon coated baht... amazing Thailand.

The only thing not to have been affected.

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When it comes to tourism—they dismiss the high Baht, and blame the virus.  I get that.

When it comes to manufacturing and exports—they darn well should blame the overpriced Baht.

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