Announcement

Collapse
No announcement yet.

Thaland : Factory Output

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Thaland : Factory Output

    Thai factory output falls for a 22nd month in January
    Reporting by Orathai Sriring, Kitiphong Thaichareon and Pairat Temphairojana; Editing by Richard Borsuk

    * Jan output -1.31 pct y/y, down a 22nd straight month
    * Reuters poll projected Jan output -0.65 pct y/y
    * Car production rises, but that of hard-drives tumbles
    * Jan capacity utilisation 60.87 pct vs Dec revised 59.77 pct

    BANGKOK, Feb 27 (Reuters) - Thai factory output fell for a 22nd straight month in January, providing further evidence that the economy continues to struggle.

    Nine months after the army seized power to end political unrest, the military government has been unable to get Thailand's two major growth engines - exports and domestic demand - into a higher gear.

    On Friday, the Industry Ministry said factory output in January fell 1.31 percent from a year earlier, twice the 0.65 percent drop forecast in a Reuters poll.

    January's result extended the streak during which output has been lower on an annual basis to 22 months. The latest fall reflects still-stumbling exports, which unexpectedly contracted 3.5 percent in January from a year earlier.

    Santitarn Sathirathai, senior economist with Credit Suisse in Singapore, said the streak of declines is worrying as it indicates structural problems and "it's a sign Thailand is losing competitiveness in some of the key manufacturing sectors".

    Thailand is a regional hub and export base for global automakers. In one January bright spot, car production had an annual increase in 19 months, a 2.3 percent rise, the ministry said.

    HARD TIMES FOR HARD-DRIVES

    Still, that gain is from a low January 2014 base, due to political tensions, and domestic car sales last month declined 13 percent from a year earlier.

    Production of hard-drives, another key export, fell 9.6 percent from a year earlier while electrical output dropped 14 percent. The ministry blamed falls for electrical appliances and air conditioners on weak demand from Europe, Japan and the Middle East.

    As commodity prices and global demand are likely to remain soft this year, Thailand's export and production sectors will weigh on the economy, putting more pressure on the government to ramp up infrastructure spending to shore up growth.

    Exports shrank in both 2013 and 2014, and the central bank predicts they will increase only 1 percent this year.

    Later on Friday, the Bank of Thailand is expected to report still weak private consumption, which makes up half of the economy, and private investment for January.

    January's capacity utilisation in industry was 60.87 percent, up slightly from a revised 59.77 percent in December.

    reuters.com
    http://thailandchatter.com/showthrea...ll=1#post45112

  • #2
    Thai factory output rises in Feb, halting 22-month decline
    Kitiphong Thaichareon and Orathai Sriring
    Editing by Simon Webb and Richard Borsuk

    Mon Mar 30, 2015

    * Feb output +3.55 pct y/y, first increase since March 2013

    * Reuters poll had projected Feb output -0.25 pct y/y

    * Confident of recovery this year - Industry Ministry official

    * Car production rises for 2nd straight month y/y

    * Feb capacity utilisation at 61.4 pct vs Jan revised 61.48 pct

    BANGKOK, March 30 (Reuters) - Thai factory output unexpectedly rose in February from a year earlier, ending a 22-month streak of falls and giving some hope of improvement in the beleaguered economy.

    The Industry Ministry said output in Southeast Asia's second-largest economy in February rose 3.55 percent from a year earlier, the first increase since March 2013.

    "The output rise was driven by car production," ministry official Somsak Jantararoungtong said, adding that while February output normally isn't high "this time it bucked the trend, making us confident that there will be a clear recovery."

    The ministry forecast that output, down 4.6 percent last year, could increase 3-4 percent this year.

    February output easily beat the most optimistic forecast in a Reuters poll for a 0.59 percent increase. The poll median was for an 0.25 percent drop.

    This is the second piece of February data indicating some improvement in an economy that came close to recession in 2014 as political protests damaged consumer sentiment and discouraged investments.

    Imports last month increased 1.5 percent from a year earlier, compared to January's 13.3 percent fall. Some of Thailand's imports go into products later exported, so the incoming shipments could auger well for exports.

    Exports in February were down 6.14 percent from a year earlier, showing that this pivotal growth engine of the economy - weak since 2013 - was still not firing well.

    Ten months after the army seized power to end the political turmoil, the military government has struggled to turn around an economy struggling with both weak internal and external demand.

    CAR PRODUCTION GAINS

    Thailand is a regional production and export hub for global automakers. In February, car production rose a second straight month, by 2.79 percent from a year earlier. January's 2.3 percent increase ended a 19-month decline.

    But the gains are from a low base, and domestic car sales in February slipped 10.8 percent on-year.

    Electronics production slipped 0.04 percent from a year earlier while electrical appliances slid 5.06 percent. In that sector, Thailand has been losing competitiveness to neighbours.

    February's factory capacity utilisation was 61.40 percent, from January's revised higher 61.48 percent.

    Exports contracted in 2013 and 2014, and the central bank sees only 0.8 percent growth in shipments this year.

    With commodity prices low and global demand soft, the government is under increasing pressure to ramp up infrastructure spending to rev up growth.

    The central bank recently lowered its 2015 growth estimate 3.8 percent from 4.0 percent. Growth last year was just 0.7 percent.

    reuters.com
    http://thailandchatter.com/showthrea...ll=1#post45112

    Comment

    Valentina Jewels gets pounded like a btich dog ?????? ??????? ????????? ???????? ???? diferentes tipos de bajinas
    antalya escort bayan
    Working...
    X