By Nopparat Chaichalearmmongkol
BANGKOK--Thailand's industrial production activity registered a slight increase in October, according to the Office of Industrial Economics at the Industry Ministry.
The OIE said Wednesday that the country's manufacturing production index rose 0.1% from last October, slowing down from a revised 1.13% increase in September. On a sequential basis, the index edged down 0.79%, reversing from a revised 1.29% rise seen a month earlier.
The OIE said in the statement that Thailand's higher MPI could be attributed to increased production of cosmetics and amenity goods, petroleum products, air-conditioning units, electronics parts and steel. However, production of automobiles, furniture and rubber fell duringthe month.
For the first 10 months of this year, Thailand's MPI inched up 0.1%.
Meanwhile, the country's capacity utilization, which gauges excess capacity, dipped slightly to 65.40% in October from a revised 65.46% in September.
Despite tepid production activity so far, the OIE expects the MPI to rise 1.0% this year and continue increasing into 2017. It added that the Thai government's infrastructure investment projects, which are expected to be more substantially implemented next year, will also lend support to the country's industrial manufacturing.
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(END) Dow Jones Newswires
November 30, 2016 01:17 ET (06:17 GMT)
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