Thailand’s industrial production index rose by 3.36% in September

The Office of Industrial Economics (OIE) of the Ministry of Industry reported that the industrial production index (MPI) was 97.9 in September, up 3.36% from the same period last year. In the first nine months (Jan.-Sept.), the MPI index increased by 2.83% compared to the same period last year.

The capacity utilization rate (CapU) was 63.18% in September, compared to 63.72% in August. In the first nine months, the capacity utilization rate averaged 63.4%.

The main factor affecting production in September is a favorable expansion of economic activity in the country. This led to an expansion in the production of major products such as petroleum, tourism-related products and jewelry.

Inflation is still affecting companies in the industrial sector as production costs rise.

The NESDB forecasts that the MPI index will grow by 1.5% to 2.5% in 2022, instead of the previously expected 4% to 5%, while industrial GDP will grow by 2% to 3%, instead of the previously expected 2.5% to 3.5%.

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