In August, manufacturing production soared 7.0% over the same month last year, which contrasted the revised 0.7% contraction observed in July (previously reported: -1.1% year-on-year). The monthly improvement surprised private sector analysts on the upside, as they had expected that manufacturing production would rise by just 4.0% The strong August print saw automobile production jumping 15.5% over the same month last year, following a flat reading in July. In addition, production of electronics accelerated from a 6.1% increase in July to a 17.3% expansion in August. On a monthly basis, manufacturing output expanded 3.88% over the previous month in seasonally adjusted terms, which contrasted a 4.79% contraction in July, confirming the strong print suggested by the annual figures. Despite the August outturn, however, the trend continued to deteriorate, with annual average growth in manufacturing production edging down from 0.8% in July to 0.6% in August, which represented the slowest pace since manufacturing output started to show positive growth rates in February 2010. Manufacturing production is likely to nosedive in the coming months, with manufacturing firms facing the worst supply chain disruptions since the March Tohoku earthquake as the floods are causing are causing widespread damage to industrial areas.
Manufacturing output bounces back in August
September 30, 2011
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Thailand Economic News
October 17, 2016
On 13 October, Thailand’s beloved King Bhumibol Adulyadej died after a 70-year reign and his successor, Crown Prince Maha Vajiralongkorn, has declared his wish to wait until he ascends the throne.
October 4, 2016
In September, consumer prices inched up 0.04% from the previous month, which contrasted the 0.04% decrease observed in August and overshot market expectations of a 0.1% increase.
September 30, 2016
In August, the trade balance recorded a USD 2.1 billion surplus, which was above the USD 0.7 billion surplus observed in the same month of the previous year and was also higher than the USD 0.8 billion surplus registered in July.
September 30, 2016
In August, manufacturing production increased 3.1% over the same month last year, which was a sharp upswing from the 5.0% contraction seen in July and marked the highest reading in over three years.
September 14, 2016
At its 14 September monetary policy meeting, the Bank of Thailand (BoT) decided unanimously to keep the one-day repurchase rate at 1.50% as the markets had expected. In its press release, the Bank commented that the Thai economy had accelerated in the second quarter on the back of strong private consumption and resilient public expenditure.