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Thailand’s factory output drops 4.19% in August as exports slow
['Thomson Reuters']
Coldwater | WTVB | wtvbam.com
BANGKOK (Reuters) -Thailand’s factory output contracted in August, figures published on Tuesday showed and was weaker than forecast, as slowing exports, falling tourist numbers and a strong baht weighed on the economy.
Thailand’s manufacturing production index fell 4.19% in August from a year earlier, the industry ministry said.
The ministry’s MPI forecast this year will be lowered from the current forecast of 0% to 0.5% growth, he added.
The factory output figures came as a new government pledged to revive the economy.
Car production in Thailand, a regional auto making centre, dropped 6.1% in August from a year earlier, according to the Federation of Thai Industries.