September 29, 2017 / 4:04 AM / a year ago

Thai Aug factory output rises 3.74 pct y/y, beats forecast

    BANGKOK, Sept 29 (Reuters) - Thailand's annual industrial
output rose for second straight month in August, beating
forecasts, helped by stronger production of car and car engines,
rubber and electronics,  suggesting the economic recovery is
gaining more traction.
    The manufacturing production index (MPI) in August rose 3.74
percent from a year earlier, the Industry Ministry said on
Friday. The median forecast in a Reuters poll was a 2.8 percent
    July's index was revised to a 3.43 percent year-on-year
increase from a 3.73 percent rise reported earlier.
    In the January-August period, the index was up 1.0 percent
from a year earlier.
    Capacity utilisation at factories in August rose to 62.46
percent from a revised 60.02 percent in July.
    Industrial goods accounted for about 80 percent of total
exports, which jumped 13.2 percent in August from a year
earlier, customs data showed.
    Exports, a key driver of growth in Southeast Asia's
second-largest economy, have recovered in 2017 after years of
    The Bank of Thailand on Wednesday raised its 2017 economic
growth forecast to 3.8 percent from 3.5 percent, with exports
rising 8 percent.
    Last year's economic growth was 3.2 percent, which still
lagged regional peers.
    Data from Thailand's Office of Industrial Economics, part of
the Industry Ministry. (not seasonally adjusted) 
 Month             Aug      Jul      Jun     May      Apr      Mar
 % change y/y    +3.74   +3.43*    -0.26   +1.64     -1.8    +0.01
 % change m/m    +3.77   -2.51*    -3.20  +15.38   -20.03   +12.74
 *Revised from +3.73 y/y 
 **Revised from -2.22 pct m/m

 (Reporting by Kitiphong Thaichareon; Writing by Orathai
Sriring; Editing by Gopakumar Warrier)
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