Thailand’s industrial output slightly increases in November
Economists attributed the better than expected manufacturing performance in November to higher auto production ahead of new domestic taxes to be implemented in 2016 and jewellery production for year-end gifts. Industrial goods comprised 79% of November’s total exports, which declined 7.4% from a year earlier. For 2015, the ministry expects output to fall or rise by 0.5% while an increase of 2-3% is expected for next year.
Meanwhile, the Bank of Thailand revised its 2015 economic growth forecast to 2.8% from 2.7% while revising down the forecast for 2016 to 3.5% from 3.7%. The country’s economy posted a growth rate of 0.9% in 2014.
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