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Thailand April factory output drops 0.36%

Thailand's April factory output fell 0.36% year-on-year, below expectations, due to Middle East conflict and rising costs.

David Wilson
ByDavid Wilson- Senior Editor
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Thailand's manufacturing production index dropped 0.36% in April from a year earlier, missing analysts' forecasts.

The April reading compared with a 0.2% increase forecast in a Reuters poll, following a revised 1.30% rise the previous month.

The industry ministry sees full-year factory output up 1.0% to 2.0%, lower than the earlier 1.5% to 2.5% range.

The ministry attributed the decline to the impact of the war in the Middle East and higher costs pressuring profits.

Tourism, a key economic driver, also weakened, affecting related industries.

First quarter output grew 0.94% annually. The outlook for May is higher on a month-on-month basis.

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Thailand April factory output drops 0.36% | Bond.az