Source: Xinhua
Editor: huaxia
2025-06-30 19:19:15
BANGKOK, June 30 (Xinhua) -- Thailand's industrial output continued to rise in May due to a strong expansion in automotive production, ongoing export growth, and government stimulus measures, official data showed on Monday.
The Southeast Asian country's manufacturing production index (MPI) rose 1.88 percent last month compared to a year earlier, edging down from a revised 1.91 percent increase in April, according to the Ministry of Industry.
Contributing to the expansion, industrial export value jumped 22.9 percent year-on-year in May, as exporters accelerated shipments to the United States ahead of anticipated tariff increases, said the ministry's Office of Industrial Economics Director-General Passakorn Chairat.
Economic stimulus measures, such as debt relief programs, the government's cash stimulus initiative, and the central bank's interest rate cut, were also supporting factors, Passakorn told a news conference.
However, weak private consumption on the back of high household debt has led to consumers being more cautious over spending, reducing overall industrial product sales, Passakorn said.
For the first five months of 2025, the MPI contracted 0.29 percent year-on-year, he said, noting that the reading would improve going forward, mainly driven by a recovery in auto production.
Last month, the ministry downgraded its MPI growth forecast for 2025 to 0 percent to 1 percent, from an earlier expectation of 1.5 percent to 2.5 percent. ■