BANGKOK: Thailand’s manufacturing production index dropped 0.04 percent in February from a year earlier, the industry ministry said on Friday, weaker than analysts’ forecasts. The February figure compared with a year-on-year increase of 2.4 percent forecast in a Reuters poll, and followed a January rise of 1.64 percent, revised upwards from 1.46 percent.
Petroleum production declined due to temporary maintenance shutdowns at some refineries, and car production slowed, said Supakit Boonsiri, the head of the ministry’s industrial economics office.
Output in March is expected to increase slightly, supported by higher production of air conditioners, fans and beverages during the summer, he told a news conference.
Geopolitical uncertainties have pushed up logistic and energy costs, and the impact will be felt more in the coming months, Supakit said.
There was some support from holiday-related spending and an expansion of industrial exports, but the impact of the Middle East conflict needs to be monitored closely, he said.
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