Thailand's manufacturing production index (THMPI=ECI) dropped 0.8% in May from a year earlier, the industry ministry said on Tuesday, weaker than analyst forecasts.

The May reading compared with a year-on-year decrease of 0.34% forecast in a Reuters poll, and followed a revised fall of 0.94% in the previous month.

  • Factory output was weighed down by declining automotive production and elevated inflation, the ministry said in a statement.

  • Car production dropped 17.94% in May from a year earlier, according to the Federation of Thai Industries.

  • Continuing geopolitical conflict affected energy costs, transport, and the procurement of some imported raw materials, pushing up manufacturing and logistics costs, the ministry said.

  • Output was supported by government stimulus measures and stronger exports, it said.

  • The ministry has forecast that factory output will rise 1.0% to 2.0% this year.

  • Last week, the central bank left its key interest rate unchanged and raised its 2026 economic growth outlook to 2.3%, with exports seen up 14%.