Thai Industrial Output Shrinks Most Since November Amid Conflict Disruptions

Thailand's industrial production took a hit in June, shrinking by 3.10% year-on-year, marking its steepest decline since November last year.

The downward trend is attributed to higher oil prices and rising freight costs due to disruptions caused by the Middle East conflict.

The automotive sector was particularly hard-hit, with car production plummeting 7.55% from a year earlier in June.

Meanwhile, palm oil production slumped 33.2%, but electronics and technology-related products continued to drive demand, limiting the decline.