August factory output seen falling 3.6% y-o-y
published : 23 Sep 2019 at 15:11
Thailand's annual manufacturing output in August is expected to have dropped at a faster pace than in the previous month, a Reuters poll showed on Monday.
The median forecast of seven economists was for the manufacturing production index to fall 3.6% in August from last year, after July's drop of 3.23%.
Industrial goods account for about 80% of Thailand's total exports, a key economic driver, which declined 4% in August from a year earlier.
Exports have been affected by escalating global trade tensions and the strength of the Thai baht, Asia's best performing currency this year.
The country's trade-reliant economy can withstand external risk factors and recently introduced stimulus should also help growth, the finance minister said on Monday.
The government can still implement additional measures if need be, but will first wait and see the impact of a 316 billion baht stimulus package launched last month on the economy, Uttama Savanayana told reporters.