Thai August factory output rises 4.44% on year, beating forecast

[BANGKOK] Thailand’s manufacturing production index rose 4.44 per cent in August from a year earlier, the industry ministry said on Wednesday (Sep 30), stronger than analysts’ forecasts.

The August reading compared with a forecast increase of 1 per cent in a Reuters poll.

The ministry has adjusted its MPI methodology, adding more electronics products and changing the weightings to support the country’s new economic structure, Supakit Boonsiri, head of the ministry’s industrial economics office, told a briefing.

August output was boosted by higher electronics production, government stimulus measures, and a weaker baht, he said.

After the methodology adjustment, the MPI in July was revised to a rise of 3.97 per cent on year, up from a 0.46 per cent increase.

The ministry now predicts factory output will rise 2.75 per cent to 3.75 per cent this year, compared with a 0.25 per cent rise seen earlier, according to Supakit. REUTERS