Thailand’s Manufacturing Production Index (MPI) contracted by 4.35% year-on-year to 99.82 points in January, in line with expectations, as weakening global demand hit the exports sector.
The Office of Industrial Economics (OIE) said on Tuesday that the capacity utilization rate (CapU) for the month January was at 62.31%, up from 59.56% in December.
Weaker demand worldwide in light of a slowing economy was a big contributor to the decline in MPI last month, notably from major trading partners like the United States and Europe.
However, the tourism industry, as well as manufacturing sectors such as refinery, automotive, shoes and clothing, and beverage, are still growing as the recovery continues.
