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Thai April factory output falls 1.7 pct y/y, more than forecast
May 31, 2017 / 3:03 AM / 6 months ago

Thai April factory output falls 1.7 pct y/y, more than forecast

    * April factory output -1.7 pct y/y vs -0.60 pct in Reuters
poll
    * Lower production of cars and jewellery
    * Capacity utilisation at 53.6 pct vs March's revised 67.03
pct
    * Jan-April factory output -0.1 pct y/y

    BANGKOK, May 31 (Reuters) - Thailand's industrial output
contracted more than expected, due mainly to lower production of
cars and jewellery, suggesting economic recovery remains
fragile.
    The Industry Ministry said on Wednesday its manufacturing
production index (MPI) in April dropped 1.7 percent from a year
earlier. A Reuters poll forecast a fall of 0.6 percent.

    March's index was revised to a 0.01 percent rise
year-on-year from a 0.53 percent fall.
    Capacity utilisation at factories fell to 53.6 percent in
April from a revised 67.03 percent in March, due partly to more
holidays in April.
    Industrial goods accounted for 80 percent of total exports,
which rose 8.5 percent in April from a year earlier, but auto
exports contracted, 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.
     
    Data from Thailand's Office of Industrial Economics, part of
the Industry Ministry. (not seasonally adjusted) 
    
 Month             Apr       Mar     Feb      Jan      Dec     Nov
 % change y/y     -1.7    +0.01*   -1.09    +2.19    +0.54   +3.88
 % change m/m   -20.03  +12.74**   -0.50    +3.91    -3.61   +2.13
 *Revised from -0.53 pct y/y 
 ** Revised from +12.13 pct m/m

 (Reporting by Kitiphong Thaichareon; Writing by Orathai
Sriring; Editing by Sunil Nair)
  

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