Thailand's manufacturing production index rose 1.88% in May from a year earlier, the industry ministry said on Monday, slightly higher than analysts' forecasts after increases in car production and exports, while the kingdom’s current account deficit was $0.3 billion in May.
The factory output figure compared with a forecast year-on-year rise of 1.80% for May in a Reuters poll. April's increase was adjusted to 1.91% from a preliminary figure of 2.17%.
Uncertainties over US trade policy and high domestic household debt remain a concern, the ministry said in a statement. The ministry has forecast output growth of zero to 1% for the whole year.
Thailand faces US tariffs of 36% on its exports if it fails to negotiate a reduction before a moratorium expires on July 9.
Thai Finance Minister Pichai Chunhavajira said on Monday he would travel to the United States later in the day for trade talks to be held over the next two days.
Commerce ministry data showed that exports, a key driver of growth, jumped 18.4% in May from a year earlier as shipments to the United States surged ahead of the end of the tariff pause.
Car production in Thailand, a regional automaking centre, rose 10.32% in May from a year earlier, the first annual rise in 22 months, according to the Federation of Thai Industries.
Current account
Meanwhile, Thailand recorded a current account deficit of $0.3 billion in May, the central bank said on Monday.
The economy in May slowed from the previous month, it said in a statement.