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Public Land Company Limited

articleThailand's industrial output declined for the first time

Thailand's industrial output declined for the first time

 

Thailand's industrial output declined for the first time in four months in February due to weaker production of autos, rubber, air conditioners and petroleum products, suggesting a fragile economic recovery.

The Industry Ministry said on Friday its manufacturing production index (MPI) in February dropped 1.5% from a year earlier. A Reuters poll had forecast a rise of 0.55%.

 In January, the index rose a revised 2.19% from a year earlier. Industrial goods accounted for 80% of total exports, which declined 2.8% in February from a year earlier after January's 8.8% rise, customs data showed.

 Exports, which account for about two-thirds of Thailand's economy, are traditionally a key driver of the country's growth. Capacity utilisation at factories was 60.10 in February, little changed from a revised 60.67% in January. 

The Bank of Thailand on Wednesday raised its economic growth forecast to 3.4% this year from 3.2%, with exports rising 2.2%. Southeast Asia's second-largest economy expanded 3.2% last year according to data from the Office of Industrial Economics, part of the Industry Ministry. 

 

 

 

 

 

 

 

Source: Reuters

31 March 2017

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