In October, manufacturing production grew 6.2% over the same month last year, which was below the 8.1% increase observed in September. The reading represented the slowest growth in manufacturing production since November 2009. The deceleration in October was mainly driven by slower growth in the manufacture of food products and beverages, which expanded 2.0% year-on-year (September: +4.3% yoy). In addition, radio, television and communication equipment production decelerated from a 13.3% expansion in September to only 3.8% in October. A month-on-month comparison confirms the deceleration suggested by the annual figures, as manufacturing production dropped 0.71% over the previous month in seasonally adjusted terms, contrasting the 3.60% expansion observed in September. However, the trend in manufacturing output continues to point up. Despite the October deceleration, annual average growth in manufacturing production stepped up from 17.0% in September to 17.7% in October. Meanwhile, the National Economic and Social Development Board (NESDB) revised its growth forecast for this year to 7.9%, up from its previous 7.5%. The Central Bank expects the economy to expand between 7.3% - 8.0% this year and between 3.0% - 5.0% in 2011.
Manufacturing output continues to slow in October
November 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.