In December, manufacturing production plummeted 25.8% over the same month the previous year, which followed the severe 47.2% plunge recorded in November (previously reported: -48.6% year-on-year), but overshot market expectations that had manufacturing output declining 30.0%. Manufacturing of electronic goods, as well as motor vehicle production, suffered the greatest declines, although the pace of contraction was slower than in the previous month. A month-on-month comparison confirms the improvement suggested by the annual data, as manufacturing production swung from a 23.5% contraction in November to a 37.9% expansion in December. The reading marked the first expansion after three consecutive drops. Owing to the impact of the floods that swamped about 10,000 factories and disrupted production in key industrial sectors, particularly the automobile and electronics sectors, manufacturing production declined 9.3% in the full year 2011, which contrasted the 14.4% expansion recorded in 2010. The 2011 result marked the steepest annual decline seen since 1998. Although the flood waters started to retreat in December, recovery in the Thai manufacturing sector is expected to be protracted, with the Central Bank predicting that a recovery in manufacturing output might be delayed until the third quarter, as the floods caused more damage to factories and supply chains than previously thought.
Manufacturing output declines less sharply in December
January 31, 2012
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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.