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April factory output unexpectedly rises 2.03% y-o-y

April factory output unexpectedly rises 2.03% y-o-y

Thailand’s manufacturing production index (MPI) in April unexpectedly rose 2.03% from a year earlier, led by higher production of cars and air conditioners, the Industry Ministry said on Tuesday.

That compares with a forecast fall of 1.0% in a Reuters poll, and against March’s revised 2.66% decline. Capacity utilisation was at 63.89% in April, down from March’s revised 74.25%.

Due to holidays, April has fewer work days. The ministry expects the MPI to rise between 2% to 3% this year, after last year’s 2.8% advance.