Thai factory output down 0.91% y/y in October, seen rising in 2025
Adds dropped word "output" in headline
BANGKOK, Nov 27 (Reuters) -Thailand's manufacturing production index THMPI=ECI dropped 0.91% in October from a year earlier, the industry ministry said on Wednesday, falling less than analysts' expectations.
The figure compared with a forecast fall of 1.85% for October in a Reuters poll, and followed an annual drop of 3.51% in September.
Factory output for the first 10 months of 2024 contracted 1.63% from a year earlier, and the ministry forecast it would fall 1.6% for the full year.
Output has been weighed down by weaker car production and high household debt that has crimped domestic spending, the ministry said.
Car production in Thailand fell 25.13% in October from a year earlier, down for the 15th straight month, due to weak demand as banks have tightened autos lending, according to the Federation of Thai Industries.
However, the industry ministry expects factory output to rise 1.5% to 2.5% next year.
"Hopefully, production will increase following higher imports," Passakorn Chairat, director general of the Office of Industrial Economics, told a press conference.
Thailand's imports rose 15.9% in October from a year earlier while exports increased 14.6% annually. Imported materials are assembled into goods that are shipped out again.
Reporting by Orathai Sriring and Thanadech Staporncharnchai; Editing by John Mair, Martin Petty
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
