(Adds details, outlook)
BANGKOK, Feb 28 (Reuters) - Thailand's manufacturing
production index (MPI) in January dropped by a slightly
less-than-expected 4.35% from a year earlier as a global
slowdown hurt exports, the industry ministry said on Tuesday.
The figure compared with a forecast fall of 5% in factory
output for January in a Reuters poll, and came after December's
revised 8.45% year-on-year decline.
The MPI is likely to drop further in February due to slowing
global demand and a high comparative base last year, ministry
official Worawan Chitaroon told a news conference.
However, the Thai economy is being supported by higher
foreign tourist numbers and government measures to boost
spending which should help offset the effects of weakening
exports, she said.
Factory output is expected to increase 1.5% to 2.5% this
year, down from a previous forecast of 2.5% to 3.5%, but
manufacturing should be underpinned by a rebound in the vital
tourism sector, private consumption and spending during the
upcoming elections in May, Worawan said.
Industrial goods account for about 80% of total exports,
which in December contracted 14.6% from a year earlier, commerce
ministry data showed. The commerce ministry is expected to
release January trade data this week.
(Reporting by Orathai Sriring and Satawasin Staporncharnchai
Editing by Ed Davies)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.