Thai industrial Output Up

Thailand’s annual industrial output slightly beat expectations as it rose for a third straight month in January, helped by higher production of cars, petroleum and rubber products, Reuters reported. The manufacturing production index in January rose 3.44% from a year earlier after December’s 4.96% increase, which was revised up from a 2.35% rise, the industry ministry said on Wednesday. The median forecast in a Reuters poll was for a 3% rise in January. The index climbed 1.58% in 2017, and the ministry has forecast a gain of 2% this year. In January, capacity utilization at factories rose to 70.19% from a revised 67.88% in December. Industrial goods account for 80% of exports, which in turn make up about two-thirds of the Thai economy, the second-largest in Southeast Asia. The state planning agency this month maintained its 2018 economic growth forecast of 3.6-4.6% after last year’s 3.9%, the fastest pace in five years. Meanwhile, Thai shares were flat on Wednesday with energy and utilities accounting for most of the decline. PTT PCL declined 1.1%, while Siam Cement PCL fell 0.8%.