In September, manufacturing production expanded 8.1% over the same month last year, which was below the 8.4% increase (previously reported: +8.7% year-on-year) recorded in August, but beat market expectations of a 5.1% rise. The reading represented the slowest manufacturing output growth so far this year. The main drivers behind September's deceleration were a sharp fall in tobacco products output (August: +54.1% year-on-year; September: -18.4% yoy). In addition, production of petroleum products came in only at a fraction of the 10.6% expansion recorded in August, expanding only 1.1%. A month-on-month analysis, however, does not corroborate the deceleration suggested by the annual figures, as manufacturing production rose 3.44% over the previous month in seasonally adjusted terms, which contrasted the 3.49% contraction recorded in August. Moreover, the trend continued to improve, with the annual average growth in manufacturing output rising from 16.3% in August to 17.0% in September. The Central Bank has recently revised its growth forecast amid clear signs of robust fundamentals and now expects the economy to expand between 7.3% and 8.0% this year, up from its previous 6.5% - 7.5% estimate.
Manufacturing output slows in September
October 29, 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, 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 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 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.