Thai August factory output rises 4.44% y/y, beats forecast
Thailand's manufacturing output in August increased by 4.44% year-on-year, surpassing market expectations. The industry ministry's report revealed a stronger growth compared to the predicted 1.0% rise in a Reuters survey. Industry ministry head Supakit Boonsiri explained that the revised methodology for the manufacturing production index (MPI) includes additional electronics products and adjusted weightings to align with Thailand's evolving economic structure.
The August MPI was significantly influenced by higher electronic production, government stimulus initiatives, and a weaker Thai baht.
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