In November, manufacturing production rose 5.6% over the same month last year, which was below the revised 6.0% expansion observed in October (previously reported: +6.2% year-on-year) as well as market expectations of a 6.8% rise. The reading represented the weakest expansion in manufacturing output since October 2009. The slowdown in November was mainly the result of a contraction in the manufacture of textiles, which slipped 3.1% annually (October: +4.6% yoy). In addition, the manufacture of refined petroleum decelerated in November, growing 0.4% (October: +2.8% yoy). However, a month-on-month assessment does not corroborate the deceleration suggested by the annual figures. Manufacturing output expanded a seasonally adjusted 0.71% over the previous month, contrasting the 0.76% decline observed in October. As a result of the November deceleration, the trend now points to a moderation in the sector's recovery, with the annual average variation in manufacturing output falling from 17.6% in October to 17.4% in November, reversing the upward trend observed since October 2009. The Central Bank expects the economy to have expanded between 7.3% and 8.0% in 2010 and to grow between 3.0% and 5.0% this year. In addition, the Finance Ministry expects the economy to slow from an estimated 7.8% expansion in 2010 to a 4.5% increase, as weak external demand dampens exports.
Manufacturing output continues to slow in November
December 30, 2010
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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.