Thailand’s manufacturing production index rose 4.44% year-on-year in August, beating market expectations as stronger electronics output, government stimulus measures and a weaker baht supported factory activity.
The increase was well above the 1% growth forecast in a Reuters poll and marked a stronger performance for Thailand’s manufacturing sector.
Supakit Boonsiri, head of the Industry Ministry’s industrial economics office, said the August reading was also affected by changes to the manufacturing production index methodology.
The revised methodology added new electronics products and adjusted weightings to better reflect Thailand’s changing economic structure.
Supakit said higher electronics production was among the main factors supporting the August index, alongside government stimulus measures and the weaker baht.
