BANGKOK: Thailand’s industrial output unexpectedly rose in May, thanks to higher production of electronics and rubber, suggesting the economy was gaining momentum. The Industry Ministry said on Friday its manufacturing production index (MPI) in May increased 1.4 percent from a year earlier, defying a Reuters poll that had forecast a fall of 0.2 percent. April’s index was revised to a 1.8 percent fall year-on-year from a 1.7 percent decline. Capacity utilisation at factories rose to 62.1 percent in May from 53.6 percent in April.
Industrial goods accounted for about 80 percent of total exports, which jumped about 13 percent in May from a year earlier, customs data showed Exports are traditionally a key driver of growth in Southeast Asia’s second-largest economy. The Bank of Thailand has forecast the economy will grow 3.4 percent this year and exports will rise 2.2 percent. It is due to provide its updated forecasts next week. Data from Thailand’s Office of Industrial Economics, part of the Industry Ministry.
