In December, manufacturing production fell 2.5% over the same month the previous year, which contrasted both the 5.7% expansion observed in November and market analyst expectations, which had seen manufacturing output rising 0.6%. The reading represented the first drop after 13 consecutive months of manufacturing production growth. The fall in December reflected a sharp contraction in the manufacture of accounting and computing machines (November:+0.5% year-on-year; December: -18.5% yoy) and a deceleration in the manufacture of food and beverages (November: +4.8% yoy; December: +0.7% yoy) Furthermore, output of furniture continued to fall in December. A month-on-month comparison, however, does not confirm the deterioration suggested by the annual figures, as manufacturing production expanded a seasonally adjusted 0.92% in December. As a result of the December contraction, the trend has turned. Following on more than a year of improving trend figures, annual average growth in manufacturing production notched slightly downwards from its 17.6% peak in October to 17.4% in November, before tumbling to 14.5% in December.
Manufacturing output drops for the first time in more than a year
January 31, 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.