Thai industrial production index contracted 3.8% on year in April

Thailand‘s industrial production index contracted 3.8% on year in April to 159.16, according to preliminary data from the Ministry of Industry’sOffice of Industrial Economics on Tuesday.The index had increased 1.2% in March. The capital-utilization rate–a measure of actual output against total capacity–slipped to 60.28% from a revised 71.03% in March. The office forecasts the index to expand 3.5%-4.5% for all of 2013 compared with an expansion of 2.51% in 2012. A hardening baht have been blamed for falling exports, as Thai goods loose price competitiveness (Source).

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