Office of Industrial Economics: MPI recovered in the first quarter

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BANGKOK, 1 May 2015- The Office of Industrial Economics (OIE) has indicated that the Manufacturing Production Index (MPI) during the first quarter has recovered to 0.1 percent growth, a sharp increase from the -7.0 percent of last year.

OIE Deputy Director Somsak Jantararoungtong revealed that the key industry driving production during the first quarter was textiles, with sales of ready-to-wear clothes expanding 2.73 percent.

He said that the textiles industry performed better in the first quarter, thanks to the government’s promotion of wearing purple shirts and traditional Thai apparel to commemorate the fifth cycle of Her Royal Highness Princess Maha Chakri Sirindhorn.

Mr. Somsak indicated that auto exports also expanded 1.36 percent in this period, producing 524,540 cars. He said the food industry grew 3.7 percent. Fisheries, sugar and poultry industries grew 14.7, 3.8 and 3.4 percent respectively.

The OIE Deputy Director said the recovery of the auto, textile, and food industries led to the office maintaining its 2015 MPI forecast at 3-4 percent. The industrial gross domestic product forecast is at 2-3 percent.