Thailand Industry


Manufacturing output surges in November amid low-base of comparison

In November, manufacturing production skyrocketed 83.3% over the same month the previous year, which came in well above both the hefty 36.0% expansion observed in October and market expectations that had manufacturing output increasing 68.5%. The strong monthly climb benefited from a low comparison base, as in November 2011 a devastating flood swamped industrial zones and hampered production in key sectors.

A month-on-month comparison saw factory output surging 8.6% in November in seasonally adjusted terms, which followed the strong 7.1% expansion recorded in October.

As a result of the strong annual figure, the trend is now pointing upwards, with the annual average variation in manufacturing output swinging from minus 7.6% in October to plus 3.2% in November, the first positive reading after 13 consecutive declines.

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Thailand Industry Chart

Thailand Industry November 2013

Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Office of Industrial Economics (OIE) and FocusEconomics calculations.

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