Thai August factory output rises 4.44% on year, beating forecast

Business Recorder reported that Thai factory output grew 4.44% during August compared with a year earlier, according to an announcement from the industry ministry on Wednesday. Analysts had expected a 1.0% rise in a Reuters poll, so the result came in well ahead of forecasts.

The ministry revised its manufacturing index method by adding further electronics items and changing the weights to match the country's new economic structure, official Supakit Boonsiri told a briefing. Output in August was lifted by stronger electronics production, state stimulus steps and a weaker baht, he said. Following the revision, July's figure was restated to a 3.97% increase, instead of the earlier 0.46% gain.

Officials now expect factory output to grow between 2.75% and 3.75% for this year. That range is a clear upgrade from the 0.25% increase previously forecast.