Thailand's manufacturing production index dropped 1.71% in June from a year earlier due mainly to lower car production and higher energy costs, the Industry Ministry said on Wednesday, missing analysts' expectations.
The figure compared with a forecast year-on-year fall of 1.5% for June in a Reuters poll and followed an annual drop of 1.54% in May.
Car production in Thailand, a regional auto making hub, dropped for the 11th straight month in June due to weaker purchasing as banks tightened lending, while energy costs increased, according to the ministry.
The Federation of Thai Industries (FTI) last week said autos output was down 20% in June from a year earlier.
However, tourism continued to support related industries such as food and beverage while exports of industrial goods still expanded, the ministry added.
Foreign visitors to Thailand so far this year have reached 20.3 million, up 34% from the same period a year earlier, according to the Tourism and Sports Ministry.
Factory output for the January-June period fell 2.01% from a year earlier. The ministry earlier said it expected output to rise between 0% and 1% in 2024.
