InfoQuest (August 27, 2019) -- According to data released by the Office of Industrial Economics (OIE), the MPI in July 2019 was 100.7, shrinking 3.23 percent year-on-year. The shrinkage should be ascribed to auto and motor, oil, steel and base steel, rubber products, and electronic parts industry, which suffered from global economic slowdown and decreased foreign market orders. The drop of oil products was caused by regular maintenance of refineries.
The Office of Industrial Economics (OIE) has tweaked GDP prediction of industrial sector in 2019 from the previous 2-3 percent to 0.0-1.0 percent.
Source: InfoQuest, by Nisarat Wichiensri / Rachada / Kasamarporn, translated by Xinhua Silk Road.
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