Thai April factory output unexpectedly rises for first time in 19 months
It was boosted by higher exports and tourism
THAILAND’S manufacturing production index unexpectedly rose 3.43 per cent in April from a year earlier, increasing for the first time in 19 months, helped by higher exports and tourism, the industry ministry said on Thursday (May 30).
The figure compared with a forecast of a 1.1 per cent year-on-year fall for April in a Reuters poll, and followed an annual decrease of 5.13 per cent in March.
The output rise in April, the first monthly increase since September 2022, was also due to a low base last year, Siripen Kiatfuengfoo, deputy director general of the Office of Industrial Economics, told a news conference.
“It’s good news. It’s the first month of growth after 18 consecutive months of contraction,” she added.
Factory output for the January-April period dropped 2.06 per cent and is expected to rise between 0 per cent to 1 per cent for the full year, the ministry said.
Thailand received 14.33 million foreign visitors between Jan 1 and May 26, up 38 per cent year-on-year, with 2.8 million Chinese visitors and overall spending of 683 billion baht (S$25.05 billion), according to tourism ministry data.
Thailand’s exports returned to growth in April, and at a much faster pace than analysts’ expectations, and the commerce ministry expected shipments to post a small gain in the second quarter. REUTERS
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