Thai April factory output drops 0.36% on year, below forecast
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Labourers work at a garment factory in Bangkok, Thailand, May 30, 2016. Picture taken May 30, 2016. REUTERS/Athit Perawongmetha
BANGKOK, May 28 (Reuters) - Thailand's manufacturing production index dropped 0.36% in April from a year earlier, the industry ministry said on Thursday, weaker than analysts' forecasts.
• The April reading compared with a year-on-year increase of 0.2% forecast in a Reuters poll, and followed a revised rise of 1.30% the previous month.
• Thai factory output for the full year was seen up 1.0% to 2.0%, lower than the 1.5% to 2.5% range seen earlier.
• Output fell due to the impact of the war in the Middle East and higher costs that put pressure on profits, the ministry said.
• Tourism, a key economic driver, also weakened, impacting related industries.
• For the first quarter output grew 0.94% annually, the ministry said.
• The outlook for May should be higher if compared to a month-on-month basis, it said.
(Reporting by Orathai Sriring, Kitiphong Thaichareon and Chayut Setboonsarng; Editing by Martin Petty)
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