Thailand's manufacturing production increased at a notably weaker rate than forecast by economists in December as the ongoing slump in external demand continued to drag down industrial activity, data released by the Office of Industrial Economics showed Monday.
Output in Thai factories increased 23.4 percent on an annual basis in December, notably slower than the 32.15 percent growth economists had forecast. The latest growth was also significantly slower than 82.3 percent recorded in November.
On a monthly basis, manufacturing output, on an unadjusted basis, decreased 6.31 percent in December. In the whole of 2012, production increased 2.51 percent from the previous year, data showed.
The Industry Ministry forecasts that manufacturing production would increase in the 3.5-4.5 percent range in the whole of 2013.
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