MPI grows in August despite global economic slowdown

Written by Writer on Saturday, October 4th, 2008

MPI grows in August despite global economic slowdown

BANGKOK, Oct 3 (TNA) – Thailand’s manufacturing production index (MPI) continued to grow 4.5 per cent in August despite the global economic slowdown ignited by the financial institution collapse in the United States, according to the Industrial Economics Office (IEO).

The continued rise in MPI was boosted by the production and export growth of the clothing, seafood processing and preservation, and hard-disk drive industries.

Apparel production expanded 10.1 per cent and exports grew by 1.8 per cent in the first eight months of this year since purchase orders had increased from the same period last year.

It is expected the production and sales of clothing would continue to grow until the end of the year because of purchase orders for large lots of products, particularly from Europe and the US, remain sound.

The seafood processing and preservation expanded 2.7 and 3.3 per cent in production and sales in August because entrepreneurs managed to expand the export market to new destinations including Europe, Japan, and the Middle East.

The hard-disk drive industry continued growing by 31 per cent in production and 28 per cent in sales in the month due mainly to the investment in production capacity expansion by many companies and the high demand for the product by growing organisations.

IEO reported that valued-added MPI in August stayed at 183.80, up 4.47 per cent from 175.94 in the same month last year and MPI (output value) at 182.47, up 1.22 per cent.

The index on inventory product stayed at 211.69, up 13.55 per cent, and that on inventory product ratio at 339.28, up 129.29 per cent. (TNA)