June factory output down, better than expected

June factory output down, better than expected

The manufacturing production index (MPI) dropped a less-than-expected 17.66% in June from a year earlier, led by lower production of cars, petroleum and tyres during the coronavirus outbreak, the industry ministry said on Wednesday.

That compares with a forecast contraction of 20.4% in a Reuters poll, and against May's revised decline of 23.8%.

Capacity utilisation in June was 55.21% after May's revised 52.34%.

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