Weak foreign demand causes a 2.71% contraction in Manufacturing Production Index during February.

The Office of Industrial Economics (OIE) reported the Manufacturing Production Index (MPI) in February 2023 at 98.89, a 2.71% contraction compared to February 2022. The key factor is weakening foreign demand. Because economic conditions are still fragile. Especially the economy of trading partners such as the US and Europe, which affect the Thai export sector.

However, industries that focus on the domestic market Including those related to tourism, many industries continued to expand well, such as automobiles, oil refining. Motorcycles, shoes and bags, while the capacity utilization rate (CapU) in February 2023 was 61.87.