Thailand’s manufacturing production index (MPI) in August rose for the fourth consecutive month, increasing by 4.8% from July to 91.43 points.
The increase, which was mainly driven by high demand for fertilisers, home appliances and canned food as well as furniture exports, follows a prediction by Industry Minister Suriya Jungrungreangkit, who earlier said Thai industry has rebounded.
Office of Industrial Economics (OIE) chief Thongchai Chawalitpichaet said the government’s economic stimulus packages have also begun to have a positive effect on MPI.
“The industrial sector is slowly recovering,” he said. Read more…..
Chart of the Day
Typically, manufacturing is a sign of broader economic growth. Recent figures show that if that’s true, our economy is trending in the right direction. Annex Wealth management’s Mark Beck takes a look.