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Thai factory output rises marginally year-on-year in June

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Thailand's industrial output rose for a fourth straight month in June but just marginally and recovery remains fragile as exports and domestic demand remain weak.

[BANGKOK] Thailand's industrial output rose for a fourth straight month in June but just marginally and recovery remains fragile as exports and domestic demand remain weak.

The Industry Ministry said on Thursday its manufacturing production index (MPI) in June rose 0.8 per cent from a year earlier. A Reuters poll had forecast a rise of 2.0 per cent.

In May, output rose a revised 2.7 per cent from a year earlier, instead of the 2.6 per cent reported earlier.

Industrial goods accounted for 80 per cent of total exports in June, which fell 0.1 per cent from a year earlier, customs data showed.

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June's annual output gain was led by autos, electronics, steel, textiles and food.

Capacity utilisation was 66.29 per cent in June, down from May's revised 67.54 per cent.

Exports have contracted in each of the past three years. The central bank has forecast shipments will fall 2.5 per cent this year, while it expects the economy to grow 3.1 per cent.

REUTERS

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