Thai May factory output unexpectedly rises 1.4% y-o-y

Thai May factory output unexpectedly rises 1.4% y-o-y

(Bangkok Post photo)
(Bangkok Post photo)

Thailand's industrial output unexpectedly rose in May, thanks to higher production of electronics and rubber, suggesting the economy was gaining momentum.

The Industry Ministry said on Friday its manufacturing production index (MPI) in May increased 1.4% from a year earlier, defying a Reuters poll that had forecast a fall of 0.2%.

April's index was revised to a 1.8% fall year-on-year from a 1.7% decline.

Capacity utilisation at factories rose to 62.1% in May from 53.6% in April.

Industrial goods accounted for about 80% of total exports, which jumped about 13% in May from a year earlier, customs data showed. Exports are traditionally a key driver of growth in Southeast Asia's second-largest economy.

The Bank of Thailand has forecast the economy will grow 3.4% this year and exports will rise 2.2%. It is due to provide its updated forecasts next week.

 


Do you like the content of this article?
COMMENT (1)

Charges laid in deadly Indonesian football stampede

JAKARTA: Indonesian authorities have charged six people, including three police officers, over a football stadium disaster that killed 131 at the weekend.

6 Oct 2022

Bangkok and neighbours seek to coordinate flood fight

Officials in Bangkok, Nonthaburi and Pathum Thani have started talks on cooperation to more effectively remedy their shared flooding woes.

6 Oct 2022

Day of terror

A teacher who survived Thursday's massacre in Nong Bua Lam Phu recounts how she was able to make her escape when the killer ran out of bullets.

6 Oct 2022