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Thai May factory output unexpectedly rises 1.4 pct y/y
June 30, 2017 / 3:01 AM / 5 months ago

Thai May factory output unexpectedly rises 1.4 pct y/y

    * May factory output +1.4 pct y/y vs -0.20 pct in Reuters
poll
    * Higher production of electronics and rubber

    BANGKOK, June 30 (Reuters) - Thailand's industrial output
unexpectedly rose in May, thanks to higher production of
electronics and rubber, suggesting the economy was gaining
momentum.
    The Industry Ministry said on Friday its manufacturing
production index (MPI) in May increased 1.4 percent from a year
earlier, defying a Reuters poll that had forecast a fall of 0.2
percent.             
    April's index was revised to a 1.8 percent fall year-on-year
from a 1.7 percent decline.
    Capacity utilisation at factories rose to 62.1 percent in
May from 53.6 percent in April.
    Industrial goods accounted for about 80 percent of total
exports, which jumped about 13 percent in May from a year
earlier, customs data showed
    Exports are traditionally a key driver of growth in
Southeast Asia's second-largest economy.
    The Bank of Thailand has forecast the economy will grow 3.4
percent this year and exports will rise 2.2 percent. It is due
to provide its updated forecasts next week.
    Data from Thailand's Office of Industrial Economics, part of
the Industry Ministry. (not seasonally adjusted) 
    
 Month             May      Apr      Mar     Feb     Jan      Dec
 % change y/y     +1.4    -1.8*    +0.01   -1.09   +2.19    +0.54
 % change m/m     n.a.   -20.03   +12.74   -0.50   +3.91    -3.61
 *Revised from -1.7 y/y 


 (Reporting by Kitiphong Thaichareon; Writing by Orathai
Sriring; Editing by Shri Navaratnam)
  

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