May factory output down 23%

May factory output down 23%

The manufacturing production index (MPI) for May dropped 23.19% from a year earlier, led by lower production of cars, petroleum and air conditioners due to the impact of the coronavirus outbreak, the industry ministry reported on Monday.

That compared with a forecast for a drop of 21.0% in a Reuters poll, and against April's revised MPI decline of 18.22%.

Capacity utilisation in May was 52.84%, compared with April's revised 51.27%.

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