Sept factory output unexpectedly rises for 2nd straight month
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Thailand’s industrial output unexpectedly rose for a second straight month in September, helped by stronger sales of air-conditioners and jewellery, but the gain was much smaller than in August, suggesting that the recovery remains fragile.
The Industry Ministry said Monday that its Manufacturing Production Index (MPI) in September was up 0.6 per cent from a year earlier. A Reuters poll had forecast a decline of 0.3 per cent. In August, output rose a revised 3.18 per cent from a year earlier, rather than the 3.13-per-cent increase reported earlier, which was the highest growth in 40 months.
Industrial goods accounted for 81 per cent of total exports in September, which unexpectedly rose 3.4 from a year earlier, customs data showed. Exports are worth about two-thirds of Thailand’s gross domestic product.
Capacity utilisation rose to 65.23 per cent in September from August’s revised 64.42 per cent.
