September 24, 2019 / 2:57 AM / 20 days ago

Thai Aug factory output falls 4.4% y/y, worse than forecast

BANGKOK, Sept 24 (Reuters) -

* Thailand’s manufacturing production index (MPI) in August dropped 4.4% from a year earlier, dragged down by lower production of cars, electronics and rubber products, the industry ministry said on Tuesday.

* That compares with a forecast of a 3.6% decline in a Reuters poll, and July’s revised 3.32% contraction.

* Capacity utilisation was 65.75% in August, compared with July’s revised 65.26%.

* The ministry cuts its 2019 MPI growth forecast to 0.5% from 2% seen earlier. Last year, the MPI rose a revised 3.6%. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Richard Borsuk)

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