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Thai Feb factory output unexpectedly falls 1.5 pct y/y
March 31, 2017 / 3:18 AM / 8 months ago

Thai Feb factory output unexpectedly falls 1.5 pct y/y

    * Feb factory output -1.5 pct y/y vs +0.55 pct in Reuters
poll
    * Weaker production of autos, rubber, air-conditioners,
petroleum
    * Feb capacity utilisation at 60.1 pct vs Jan's revised
60.67 pct

    BANGKOK, March 31 (Reuters) - Thailand's industrial output
declined for the first time in four months in February due to
weaker production of autos, rubber, air-conditioners and
petroleum products, suggesting a fragile economic recovery.
    The Industry Ministry said on Friday its manufacturing
production index (MPI) in February dropped 1.5 percent from a
year earlier. A Reuters poll had forecast a rise of 0.55
percent.            
    In January, the index rose a revised 2.19 percent from a
year earlier.
    Industrial goods accounted for 80 percent of total exports,
which declined 2.8 percent in February from a year earlier after
January's 8.8 percent rise, customs data showed.
    Exports, which account for about two-thirds of Thailand's
economy, are traditionally a key driver of the country's growth.
    Capacity utilisation at factories was 60.10 in February,
little changed from a revised 60.67 percent in January.
    The Bank of Thailand on Wednesday raised its economic growth
forecast to 3.4 percent this year from 3.2 percent, with exports
rising 2.2 percent.
    Southeast Asia's second-largest economy expanded 3.2 percent
last year.
 
    Data from Thailand's Office of Industrial Economics, part of
the Industry Ministry. (not seasonally adjusted) 
    
 Month              Feb      Jan      Dec     Nov     Oct     Sept
 % change y/y      -1.5   +2.19*    +0.54   +3.88   -0.02    +1.13
 % change m/m     -0.91  +3.91**    -3.61   +2.13   -0.89    +1.29
 *Revised from +1.3 pct
 **Revised from +3.1 pct

 (Reporting by Satawasin Staporncharnchai; Writing by Orathai
Sriring; Editing by Gopakumar Warrier and Sunil Nair)
  

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