Thai April factory output drops 0.36% on year, below forecast

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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.

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• 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.

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