November factory output up 4.23% y-o-y

November factory output up 4.23% y-o-y

Annual industrial output rose in November, after falling in the previous month, on higher production of cars, engines and rubber products.

The manufacturing production index (MPI) in November rose 4.23% from a year earlier, the Industry Ministry said on Thursday. The median forecast in a Reuters poll was for a 1.90% rise.

October data was revised to a year-on-year fall of 0.33% from a 0.48% rise reported earlier.

In the January-November period, the index rose 1.52% from a year earlier. The ministry expects output to rise 1.5% this year and 2% next year. 

Capacity utilisation at factories in November was at 64.16%, up from a revised 60.19% in October. 

Industrial goods account for 80% of total exports, which in turn make up about two-thirds of Southeast Asia's second-largest economy. 

The Bank of Thailand expects the economy to grow 3.9% for this year and next, while 2016's growth was 3.2%, still lagging regional peers.


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