OIE cuts growth forecast after poor June | Bangkok Post: business

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OIE cuts growth forecast after poor June

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The manufacturing production index (MPI) is now projected to grow by less than 1% this year, but industrial production is set to improve in the second half thanks to the recovery of business sentiment, says the Office of Industrial Economics (OIE). 

The index fell for the 14th consecutive month by 6.6% in June after declining 4% in May.

Director-general Somchai Harnhirun said the latest figure has prompted the agency to project the MPI will grow below 1% this year compared with an earlier forecast of  1.5-2%. However, a final forecast will be made later this year and largely depend on the recovery of car production.

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