November 30, 2017 / 3:46 AM / a year ago

Thai Oct factory output rises 0.48 pct y/y, well below forecast

    BANGKOK, Nov 30 (Reuters) - Thailand's annual industrial
output rose for a fourth straight month in October, but much
less than expected, as stronger production of rubber, car
engines and processed food was offset by weaker output of air
conditioners, jewellery and textiles.
    The manufacturing production index (MPI) in October rose
0.48 percent from a year earlier, the Industry Ministry said on
Thursday. The median forecast in a Reuters poll was for a 3.2
percent rise.
    September's index was revised to 4.88 percent year-on-year
from a 4.23 percent rise reported earlier.
    In January-October, the index rose 1.38 percent from a year
    The ministry predicts output will rise 1.5 percent this year
and 2.0 percent next year.     
    Capacity utilisation at factories in October was at 60.45
percent, down from September's revised 63.52 percent.
    Industrial goods account for 80 percent of total exports,
which in turn make up about two-thirds of Southeast Asia's
second-largest economy.
    The National Economic and Social Development Board, which
compiles GDP data, forecasts 2017 economic growth of 3.9 percent
 after last year's 3.2 percent, still lagging regional peers. 
    Data from Thailand's Office of Industrial Economics, part of
the Industry Ministry. (not seasonally adjusted)
 Month            Oct     Sept      Aug     July    June
 % change y/y   +0.48   +4.88*    +4.23    +3.43   -0.26
 % change m/m   -4.57  +1.94**    +4.26    -2.51   -3.20
 *Revised from +4.21 y/y
 **Revised from +0.98 pct m/m

 (Reporting by Kitiphong Thaichareon; Writing by Orathai
Sriring; Editing by Sunil Nair and Kim Coghill)
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