for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Thai July factory output drops 14.7%, worse than forecast

BANGKOK, Aug 26 (Reuters) - Thailand’s manufacturing production index (MPI) declined a bigger-than-expected 14.69% in July from a year earlier, led by lower production of cars and petroleum amid the coronavirus outbreak, the industry ministry said on Wednesday.

That compares with a forecast fall of 13.9% in a Reuters poll, and against June’s revised contraction of 17.8%.

Capacity utilisation in July was 56.01% after June’s revised 55.07%.

The ministry expects the MPI index to fall by 8%-9% this year, it said.

Industrial goods account for 80% of total exports, a key driver of Thai growth, which contracted 11.37% in July from a year earlier.

Reporting by Kitiphong Thaichareon Writing by Orathai Sriring Editing by Ed Davies Editing by

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up