Thailand reports worse-than-expected January factory output, down by 4.6%

Thailand reports worse-than-expected January factory output, down by 4.6%

Thailand reported its manufacturing production index (MPI) for January which dropped sharply for a ninth-straight month. The country’s PMI, which slid 4.59% lower from a year earlier, was a result of a decrease in the production of automobiles, sugar, and palm oil, according to the ministry on Wednesday.

The performance was worse than initially expected with a contraction of 3.9% against December’s drop of 4.35%.

Capacity utilization in January was 66.48% which was higher than a revised 64.02% in December.

In 2019, the MPI had seen its decline, reporting a 3.7% drop. The ministry is expecting factory output to move up by 2-3% for 2020.