Manufacturing output in Thailand rose for the fourth straight month in a row during the month of June; however, recovery still remains weak in the Thai economy as domestic as well as external demand remains subdued.
Thailand’s manufacturing production index (MPI) in June rose 0.8 percent from a year earlier, data released by the Ministry of Industry showed Thursday. This remained far below a Reuters poll that had predicted a rise of 2.0 percent.
In addition, output rose a revised 2.7 percent in June, compared to a year earlier period, instead of the 2.6 percent reported earlier. The annual output gain in June was led by a buoyant growth in the autos, electronics, steel, textiles and food sector.
Industrial goods accounted for 80 percent of total exports in June, which fell 0.1 percent from a year earlier, customs data showed. Moreover, capacity utilization came in at 66.29 percent in June, down from May's revised 67.54 percent.
Meanwhile, the central bank of Thailand has forecast shipments to fall 2.5 percent this year, after exports contracted in each of the past three years. Also, it expects the economy to grow at 3.1 percent thorough the year.
