September factory output down less than forecast

29-Oct-2020 Intellasia | Reuters | 6:02 AM Print This Post

The manufacturing production index (MPI) dropped a smaller-than-expected 2.75 percent in September from a year earlier due mainly to lower production of cars, petroleum and sugar amid the coronavirus pandemic, the industry ministry said on Wednesday.

That compares with a forecast for a decline of 4.71 percent in a Reuters poll, and against August’s revised contraction of 9.05%.

Capacity utilisation in September was 63.07 percent after August’s revised 60.86%.

The ministry has forecast the MPI index will fall by 8%-9 percent this year. Industrial goods account for 80 percent of total exports, a key driver of Thai growth.


Category: Thailand

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