Thailand: September factory output rises 4.21% y-o-y

• Oct 31, 2017

Thailand’s industrial output rose for a third straight month in September on an annual basis, beating forecasts, helped by higher production of automobiles, rubber and electronics, showing the economy is growing steadily.

The manufacturing production index (MPI) in September increased 4.21% from a year earlier, the Industry Ministry said on Tuesday. The median forecast in a Reuters poll was a 3.6% rise. 

August’s index was revised up to 4.23% year-on-year from a 3.74% increase reported earlier. In the January-September period, the index rose 1.4% from a year earlier.

Capacity utilisation at factories in September was at 63.56% from August’s revised 62.43%. 

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

The Bank of Thailand last month raised its 2017 economic growth forecast to 3.8% from 3.5%, with exports rising 8%. Last year’s economic growth was 3.2%, and Thailand still lags its regional peers. 

Source: https://www.bangkokpost.com/business/news/1351812/september-factory-output-rises-4-21-y-o-y