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April factory output rises 0.56% y/y, below forecast
Thailand’s factory output in April rose at a smaller pace than expected as higher costs continued to affect production, despite improved economic activity, the industry ministry said on Monday.
The manufacturing production index (MPI) rose 0.56% in April year-on-year, below a forecast rise of 1.6% in a Reuters poll and against March’s 0.44% increase.
Factory output, however, should continue to be underpinned by increased domestic activity following an easing of Covid-19 curbs, while a weak baht further boost manufacturing exports, ministry official Thongchai Chawalitpichaet told a briefing.
In April, production of cars, oil, and rubber products rose while output of hard disk drives dropped due to a shortage of materials over China’s pandemic lockdown measures, the ministry said In January-April, the MPI index rose 1.37% from a year earlier.
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