Thai June factory output falls 3.1% y/y, weaker than forecast rise of 0.2%

[BANGKOK] Thailand’s manufacturing production index dropped 3.1 per cent in June from a year earlier, the industry ministry said on Monday, weaker than analysts’ forecasts.

The June reading compared with a year-on-year increase of 0.2 per cent forecast in a Reuters poll, and followed a 0.8 per cent fall in the previous month.

Factory output was weighed by weaker auto production, the ministry said.

Car production dropped 7.55 per cent in June from a year earlier, according to the Federation of Thai Industries.

Palm oil production also fell 33.2 per cent year-on-year, Supakit Boonsiri, head of the ministry’s industrial economics office, told a briefing.

The manufacturing production index from January to June fell 0.4 per cent, the ministry said. REUTERS