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?

6 people killed in Philippine typhoon

The strongest typhoon to hit the Philippines this year left at least six people dead, authorities said Monday, after heavy rain and fierce winds battered the country's most populous island.


Chartpattana Party renamed after ex-Kla bigwigs join

NAKHON RATCHASIMA: Chartpattana members agreed on Monday to rename the party to present a new image after it opened arms to former Kla executives.


Thai anti-Covid nasal spray ready for commercial sale

A nasal spray to prevent Covid-19 infection developed by Thai medical researchers will be available for commercial sale from Oct 1, Worawan Chaikamnerd, chief executive officer of Hibiocy Co and Rojukiss International Public Company Ltd announced on Monday.