Thailand’s Industrial Production Expands in June
(MENAFN) Thailand’s industrial sector continued to expand for the third consecutive month in June, fueled by a rebound in automotive manufacturing and sustained export momentum, official figures revealed Wednesday.
The nation’s Manufacturing Production Index (MPI) increased by 0.58 percent year-over-year in June, slowing down from a revised 1.94 percent growth reported in May, the Ministry of Industry stated.
Automotive manufacturing saw a remarkable 17.02 percent year-on-year rise in June, marking its third straight month of expansion. This surge was supported by mid-year marketing promotions and intensified pricing competition, according to Passakorn Chairat, Director-General of the ministry’s Office of Industrial Economics.
Industrial product shipments surged 17.6 percent in June, representing the 15th consecutive month of growth. This strong performance was largely driven by accelerated shipments ahead of anticipated U.S. tariffs, Passakorn explained during a press briefing.
However, ongoing uncertainty over U.S. trade policies continued to pressure Thailand’s industrial sector, compounded by geopolitical risks and the strengthening of the baht currency, Passakorn added.
Weak private consumption, constrained by elevated household debt, remained a significant drag on industrial product sales as consumers exercised caution in spending. Additionally, a slowdown in the tourism industry negatively impacted sectors linked to travel, he noted.
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