Thai July factory output falls 3.23% y-o-y, slightly worse than forecast

[BANGKOK] Thailand's manufacturing production index (MPI) in July dropped 3.23 per cent from a year earlier, dragged down by lower production of cars, petroleum and steel, the industry ministry said on Tuesday.

That compares with a forecast of 3.05 per cent decline in a Reuters poll, and June's revised 5.3 per cent contraction.

Capacity utilisation was at 65.68 per cent in July, compared with June's revised 65.28 per cent.

The ministry cuts its 2019 MPI growth forecast to 0.5 per cent from 2 per cent seen earlier. Last year, the MPI rose a revised 3.6 per cent.

REUTERS