Thailand’s factory output shrank more than expected in June as sluggish global demand crimped exports amid an uncertain outlook for industry as political uncertainty after May elections drags on, a ministry official said. | Reuters
In the first half of 2023, factory output shrank 4.6 percent on-year. Industrial goods account for about 80 percent of total exports which have declined for nine straight months.The ministry now expects the MPI to drop for the full year, compared with a previous forecast of zero to 1 percent growth, Warawan Chitaroon, head of the ministry’s Office of Industrial Economics, told a press briefing.
A delay in forming a new government after the election will also impact the manufacturing sector as it holds up measures to support industry and Southeast Asia’s second-largest economy, she said. “The more delay, the bigger impact,” she said. “The industrial sector has already been affected by slowing foreign orders while oil prices have not come down much”.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thai exports fall less than forecast in June, seen improvingThai exports shrank for a ninth consecutive month in June, albeit at a smaller rate than expected, as global demand remains sluggish, but the commerce ministry said it still expects some growth for the full year. | Reuters
Read more »
GMA Network records highest video views across AVOD platforms in JuneAs it reinforces its position as a nationwide leader in digital reach, media giant GMA Network bested other local media companies in total video views across all Advertising-based Video on Demand (AVOD) platforms -- Facebook, Tiktok, YouTube, and Twitter -- for the month of June.
Read more »
China's video game player population rises to a record at end-June'Against the backdrop of a sluggish global gaming market, China's gaming industry is gradually emerging from a trough and showing an upward trend,' Zhang Yijun, a director at the CGIGC, says.
Read more »
Thaksin to return from exile amid Thai post-election chaos | Patpicha Tanakasempipat / Bloomberg NewsFormer Thai prime minister Thaksin Shinawatra, who has lived in self-imposed exile for 15 years, is set to return to the Southeast Asian nation next month, a move likely to add to the political chaos that’s gripped the country since a May general election. Thaksin, who turned 74 on Wednesday,…
Read more »
US economy likely slowed in April-June quarter but still showed its resilienceWASHINGTON — The most aggressive streak of Federal Reserve interest rate hikes in 40 years has slowed the U.S. economy. But to the surprise of many, it hasn&039;t derailed it. The
Read more »