BANGKOK, 27 December 2013 The Office of Industrial Economics (OIE) indicates that the Thai Industrial Sentiment Index (TISI) during the first 11 months of 2013 posted a decrease 2.9%, compared to the same period of 2012.
Dr Somchai Harnhirun, OIE Director, disclosed that the 11-month TISI had dropped 2.9% year-on-year while Thailand’s industrial GDP for the third quarter of this year had contracted 0.4%. The main factors causing the decrease include the global economic slowdown, particularly in trading partner countries, and the waning domestic consumption.
The lower demand has affected output in many industries, especially the automobile industry which last year received a powerful boost from the first-car buyer program.
The Manufacturing Production Index (MPI) adjusted down 10.6% in November and 2.9% for the 11-month period. Nonetheless, in 2014, the index is projected to rebound 1-3%.
