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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Shipping costs show no sign of abating yet
- PP, PE gains extend into April but demand slips further in Africa
- Triple-digit hikes send Europe’s PP market to fresh all-time highs
- Turkey’s PET markets extend drops into April, pervaded by weak demand
- US PVC offers resurface at competitive levels in Egypt, Turkey
- China import PE prices extend losses into April on lower costs
- Bullish price environment continues in Egypt’s PP, PE markets
- Unexpected plant shutdown fails to cease local PP downturn in Indonesia
- Export PVC prices out of China provide competitive edge
- European PP, PE set for 6th bullish month, is peak near?