BANGKOK, Jan 29 (TNA) - Thailand's manufacturing production index (MPI) in December shrank for the third consecutive month by 19.65 per cent, the highest in six years and 10 months, according to the Industrial Economics Office (IEO).
However, IEO Director-General Arthit Vuthikaro said the MPI average continued to rise by 3.9 per cent this year from last year because the index still rose by 11.6, 9.4, and 5.8 per cent in the first, second, and third quarters last year, but shrank by 9.7 per cent in the fourth quarter.
Key industries that contributed to the shortfall in growth include the production sectors for hard disk drives, electronic parts, and vehicles.
The production and distribution of the hard disk drive in December contracted sharply by 32 and 23.6 per cent respectively mainly because major importing countries were affected by the global economic crisis and Thailand's domestic political uncertainties.
The production and distribution of electronic parts shrank considerably by 24.2 and 23.4 per cent, and that of vehicles by 23.5 and 26.1 per cent consecutively.
Mr. Arthit said that many indicators showed a recession of the industrial sector, which might lead to job losses and rising unemployment. (TNA)
Business News : Last Update : 10:01:28 29 January 2009 (GMT+7:00)
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