Thailand Industry


Contraction in manufacturing lessens in July

In July, manufacturing production fell 5.3% over the same month last year, which was a weaker contraction than the 7.7% decrease seen in the previous month. The figure marked the softest drop in four months and was mainly driven by decreasing output in the manufacturing of food and beverages.

On a monthly basis, manufacturing output increased 2.6% in seasonally-adjusted terms, which contrasted the 3.3% drop seen in June and marked an 11-month high. Annual average growth in industrial production was stable at June’s minus 3.4%.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.8% in 2015, which is down 0.3 percentage points from last month’s estimate. For 2016, the panel expects manufacturing to expand 6.1%.

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Thailand Industry Chart

Thailand Industry July 2015

Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Office of Industrial Economics (OIE) and FocusEconomics calculations.

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