FW: RHB | Thailand | MPI Unchanged Despite Auto Slowdown

 

 

 

 

 

Economic Research			1 November 2017
Thailand
Economic Update
MPI Unchanged Despite Auto Slowdown   Thailand’s MPI rose 4.2% YoY in September, unchanged from the month before. Production of electrical & electronic (E&E) components and food & beverages (F&B) improved. However, gains were offset by slower vehicle and rubber & plastic product output. Going forward, we expect manufacturing activities to ease in 4Q, hampered by a high base effect, and the delay in the iPhone X release. However, the slowdown may not be as severe as first envisaged, as F&B production is set to improve on higher tourist demand. The automotive cluster, meanwhile, may benefit from replacement demand in the US and a front-buying of small engine vehicles in China, ahead of a scheduled tax hike at the start of next year.   Economist:  Ng Kee Chou  | +603 9280 2179
To access our recent reports please click on the links below:   4 October : September CPI Surged, But Core CPI Remained Flat 2 October : MPI Gained Momentum In August, Led By Automotive 2 October : Money Supply Continues To Climb On Foreign Demand 28 September:  BoT Raises GDP Forecasts, Maintains Key Repo Rate 25 September: August Exports Jump On North Asian Demand
Economic Team
Peck Boon Soon	Chief ASEAN Economics	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo	Malaysia, Vietnam	vincent.loo@rhbgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

 

 

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