Thailand’s March Manufacturing Continues to Fall amid Weakening Global Demand

Thailand’s manufacturing production index declined by 4.56% in March and by an average of 3.94% in the first quarter, the Ministry of Industry reported on Friday, citing waning global demand and inflationary pressures.

The March reading of 104.65 was 4.56% lower than the same period a year ago due to global demand weakening amid economic uncertainty, major trading partner nations still facing rising prices, and central banks continuing to hike rates.

But with the tourism industry bouncing back strongly, Thais are hopeful about the country’s economic future, said the Industry Minister on Friday.