The crisis is intensifying. It’s time to inaugurate a new chart : Manufacturing Production Index (source Bank of Thailand).
Manufacturing Production Index (MPI) serves as an indicator for the volume of production as well as the direction of manufacturing sector.
MPI series, currently published by the Bank of Thailand (BOT), is
compiled on a monthly basis. It covers 76 products, accounting for 75.68 percent of total value-added of the manufacturing sector.
Firms included are based on those registered with the Ministry of Industry and those receiving investment promotion privileges from the Board of Investment. Target group includes firms with high production capacity or market share. About 440 firms were selected as sampling units.
In december, the MPI dropped to 157,47 points from 176,77 in november, and 194,78 in october …
(click on the image)
On the second chart, you see the drop in percentage in december, compared to december 2007 : -18,75 % ! In november, the trend was already negative : -7,68 %.
Such drop is unprecedented.