Thailand's industrial output rose for a fourth straight month in November and at the fastest annual pace in 43 months, lifted by demand for steel, electronics and autos. The Industry Ministry said on Thursday its manufacturing production index (MPI) in November was up 3.81 percent from a year earlier. A Reuters poll forecast a rise of 0.20 percent.
In October, output edged up 0.1 percent from a year earlier. Industrial goods accounted for 79 percent of total exports in November, which surprisingly jumped 10.2 percent from the year before due to higher demand from major markets, customs data showed. Shipments are worth about two-thirds of the Thai economy. Capacity utilisation was 66.71 percent in November after 65.35 percent in October.
Exports have contracted each in the past three years, bogging down the junta's efforts to revive Southeast Asia's second-largest economy since taking power in May 2014 to end prolonged street protests. Last week, the Bank of Thailand predicted exports would fall 0.6 percent this year and be flat in 2017. It maintained its economic growth outlook at 3.2 percent this year and next.
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