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Thailand's industrial output dropped for the fourth consecutive month in January due to the global economic slowdown, data showed on Tuesday.
The country's manufacturing production index (MPI) for January declined 4.35 per cent from a year earlier, following an 8.45 per cent year-on-year fall in the previous month, as furniture, hard disk drives, and plastic pellet production continued to slow, according to the Ministry of Industry.
Despite rising foreign tourist numbers and government stimulus measures that could help offset the impact of weakening exports, the MPI is expected to fall further in February due to slowing global demand and a high comparative base last year, Director-General of the Ministry's Office of Industrial Economics, Warawan Chitaroon, told a news conference as quoted by Xinhua news agency report.
The Ministry expected that industrial output would increase by 1.5 to 2.5 per cent this year, down from 2.5 to 3.5 per cent projected earlier, aided by steady growth in the tourism sector and private consumption as well as government support measures and spending during the upcoming general election, the official said.
--IANS
int/khz/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Tue, February 28 2023. 18:14 IST
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