Thai factory output falls for 12th month as unrest dims growth outlook
Published on Apr 28, 2014 11:33 AM
BANGKOK - Thailand's factory output fell more than expected in March, showing how intractable political turmoil in Bangkok has hurt a key pillar of the economy and will cut growth prospects this year.
Southeast Asia's second-largest economy has endured months of turbulence as protesters seek to topple Prime Minister Yingluck Shinawatra and the central bank has warned growth will contract for the first time in a year in the first quarter.
Industrial output in March fell for a 12th straight month, down 10.41 per cent from a year earlier, the Industry Ministry said in a statement. That compared with February's revised 4.7 per cent drop and an 8.2 per cent decline in a Reuters poll.
The Commerce Ministry will later on Monday release customs-cleared trade data for March, expected to show a small annual decline in exports, a bulk of which comprises industrial goods, and a further slump in imports.
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