[Bloomberg] Thailand’s Industrial Output Falls for Eighth Months on Exports
[Thailand’s industrial production fell for an eighth month in June as the global recession slashed demand for automobiles and processed food. The magnitude of the drop was the smallest since November.
A measure of manufacturing production dropped 7.8 percent from a revised 9.8 percent decline a month earlier, Pichit Patrawimolpon, a Bank of Thailand director, said today in Bangkok. The median estimate of 15 economists in a Bloomberg survey was for a 9.5 percent contraction.
“The Thai economy has hit the bottom,” said Kosit Panpiemras, executive chairman at Bangkok Bank Pcl, the nation’s largest lender. “But it will take time for us to return to growth. Global trade remains very weak and that will hurt export-dependent economies like ours.”]
BP: Some great stats in the article.
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