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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Biden now calls ally Japan ‘xenophobic’ along with China, Russia
Japanese companies struggle with yen’s continued weakness
Australia’s March goods trade surplus narrows to more than 3-year low
Hong Kong holds rate as Fed signals inflation concerns
Australian business strength is shocking even its biggest lender
South Korea’s factory activity shrinks in April, but optimism about outlook ticks up