Thai Industrial Production Index to Undergo Structural Review to Boost Competitiveness

Thailand's Ministry of Industry and Natural Resources has ordered a structural review of the Manufacturing Production Index (MPI) to more accurately reflect the competitiveness of the country's manufacturing sector. This directive comes in response to the deterioration of economic indicators, with the MPI contracting by 3.10% year-on-year in June, and an expected overall decline of 1.79% for the second quarter. The MPI is a crucial indicator of the health of Thailand's manufacturing industry. Revising its calculation methods and components is essential for accurately assessing the current state of the industry and for formulating appropriate policies. Concerns have been raised that the current MPI may not be keeping pace with the rapidly changing global economy and the evolving industrial structure within Thailand. This structural review is expected to refresh the index to be more aligned with current realities. Source: MGR Online (Business)