Thai July factory output rises 3.73% y-o-y, above forecast

• Aug 31, 2017

Thailand’s annual industrial output rose in July, after a fall the previous month, helped by stronger car engine and electronic production suggesting the economic recovery is gaining momentum.

The Industry Ministry said on Thursday the manufacturing production index (MPI) in July rose 3.73% from a year earlier, compared with the median forecast of a 3.15% rise in a Reuters poll. 

June’s index was revised to a 0.26% year-on-year fall from a 0.16% dip. In the first seven month, the index was up 0.62% from a year earlier. 

Capacity utilisation at factories in July fell to 60.22% from a revised 61.39% in June. Industrial goods accounted for about 80% of total exports, which rose 10.5% in July from a year earlier, customs data showed. 

Exports, a key driver of growth in Southeast Asia’s second-largest economy, have just recovered in 2017 after years of poor performance. 

The Bank of Thailand has forecast economic growth of 3.5% this year, with exports rising 5%. The economy expanded 3.2% last year, still lags its regional peers. 

Source: http://www.bangkokpost.com/business/news/1316335/thai-july-factory-output-rises-3-73-y-o-y-above-forecast