Thai October factory output falls 0.54%, less than forecast

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Thai October factory output falls 0.54%, less than forecast

 

FILE PHOTO: A party supplies rental company owner Asaree Jarugosol poses at her rental shop converted into a face mask factory as Thais adapt to the new economic reality in Bangkok, Thailand April 29, 2020. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's manufacturing production index (MPI) dropped a smaller-than-expected 0.54% in October from a year earlier, with lower production of cars and clothes amid the coronavirus pandemic, the industry ministry said on Friday.

 

That compares with a forecast for a decline of 1.80% in a Reuters poll, and against September's revised fall of 2.15%.

 

Capacity utilisation in October was 63.2% after September's revised 63.46%.

 

The ministry also forecast the MPI index would fall 8% this year, having projected a 8-9% drop. It expects the index to rise 4.0-5.0% next year. Industrial goods account for about 80% of total exports, a key driver of Thai growth.

 

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Martin Petty)

 

-- © Copyright Reuters 2020-11-27

 

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