MPI sees increase in September

MPI sees increase in September

Thailand's manufacturing production index (MPI) gained momentum in September, increasing by 3.25% to 94.7 points from August, with household equipment and furniture among businesses that see bright prospects, says the Office of Industrial Economics (OIE).

The gradual increase in MPI for the fifth consecutive month reflects the better situation in the manufacturing sector officials believe is approaching towards the pre-Covid-19 period.

However, compared with the 2019 index, the September MPI decreased by 2.75% year-on-year.

OIE chief Thongchai Chawalitpichaet said yesterday industry improvement is caused by a range of factors from lockdown easing to the relocation of production bases and greater demand for certain products during the pandemic.

Household item industry expanded by 34% year-on-year. More domestic and overseas demand was seen in the refrigerator segment while manufacturers' decision to relocate production facilities from China to Thailand since June also increased refrigerator output in September, according to OIE.

Washing machine producers also received more orders domestically after they opened a new marketing channel to sell their products. Malaysia and Japan were their key overseas markets.

The furniture industry also expanded by 13.1% year-on-year. Manufacturers increased production to meet more purchase orders from the US and Japan, where demand for the items rose as a result of stay-at-home guidelines during the pandemic.

However, because Covid-19 rates remain high in many countries, international trade will remain sluggish.

"That's why Thailand needs to focus more on domestic consumption," said Mr Thongchai.

The government should also take advantage of low Covid-19 cases in the country to attract more foreign investors, he suggested.

Capacity utilisation in September stood at 60.8%, marginally up from 60% in August.

Do you like the content of this article?
COMMENT

Activist opposes Sorrayuth's news comeback bid

Activist Srisuwan Janya has petitioned the National Broadcasting and Telecommunications Commission (NBTC) opposing former newscaster Sorrayuth Suthassanachinda’s plan to resume his role on Channel 3, saying it is against the news profession's ethical code to allow the former anchor to take a lead role in presenting news on air again.

20 Apr 2021

Authorities to take advantage of early rainy season

The Office of the National Water Resources (ONWR) has been told to take advantage of the early arrival of the rainy season to stock up on water supply for next year's summer.

20 Apr 2021

20 crew missing after Philippine ship runs aground in typhoon

A search was under way Tuesday for 20 crew members missing in the Philippines after their cargo ship ran aground while seeking shelter from rough waters churned up by a typhoon, the coast guard said.

20 Apr 2021