Thai April factory output drops 0.36% on year, below forecast
Labourers work at a garment factory in Bangkok, Thailand, May 30, 2016. Picture taken May 30, 2016. REUTERS/Athit Perawongmetha
BANGKOK, May 28 : Thailand's manufacturing production index dropped 0.36 per cent in April from a year earlier, the industry ministry said on Thursday, weaker than analysts' forecasts.
• The April reading compared with a year-on-year increase of 0.2 per cent forecast in a Reuters poll, and followed a revised rise of 1.30 per cent the previous month.
• Thai factory output for the full year was seen up 1.0 per cent to 2.0 per cent, lower than the 1.5 per cent to 2.5 per cent range seen earlier.
• Output fell due to the impact of the war in the Middle East and higher costs that put pressure on profits, the ministry said.
• Tourism, a key economic driver, also weakened, impacting related industries.
• For the first quarter output grew 0.94 per cent annually, the ministry said.
• The outlook for May should be higher if compared to a month-on-month basis, it said.
