Thai August factory output rises 4.44% on year, beating forecast
- After the methodology adjustment, the MPI in July was revised to a rise of 3.97% on year, up from a 0.46% increase
Thailand's manufacturing production index rose 4.44% in August, surpassing forecasts, attributed to a new methodology, increased electronics output, government stimulus, and a weaker baht.
- New methodology for calculating the MPI
- Factors boosting August's manufacturing output
- Revised annual factory output predictions
BANGKOK: Thailand’s manufacturing production index rose 4.44% in August from a year earlier, the industry ministry said on Wednesday, stronger than analysts’ forecasts.
The August reading compared with a forecast increase of 1.0% in a Reuters poll.
The ministry has adjusted its MPI methodology, adding more electronics products and changing the weightings to support the country’s new economic structure, Supakit Boonsiri, head of the ministry’s industrial economics office, told a briefing.
August output was boosted by higher electronics production, government stimulus measures, and a weaker baht , he said.
After the methodology adjustment, the MPI in July was revised to a rise of 3.97% on year, up from a 0.46% increase.
The ministry now predicts factory output will rise 2.75% to 3.75% this year, compared with a 0.25% rise seen earlier, according to Supakit.