InfoQuest (August 27, 2020) – According to the Office of Industrial Economics (OIE), the manufacturing production index (MPI) in July stood at 85.47, shrinking 14.69 percent y/y; the sectors that saw a MPI dip in July were sugar, automotive and petroleum, which have dropped by 57.4, 53.3 and 8.1 percent respectively.
The capacity utilization rate in July reached 56.01 percent, but MPI contracted 13.13 percent in the first seven months of this year.
Additionally, OIE has cut 2020 total MPI forecast to 8-9 percent from an expected targetof 6-7 percent, as well as the industrial GDP forecast ofan8-9 percent plunge from an earlier estimate of a 5.5-6.5 percent fall.
Source: InfoQuest, by Nisarat Wichiensri/Kasamarporn/Rachada, translated by Xinhua Silk Road
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