In October, manufacturing output surged 36.1% over the same month last year, which contrasted the revised 15.9% decline recorded in September (previously reported: -13.7% year-on-year) and exceeded market expectations, which had factory output increasing 29.8%. The monthly jump echoed the low comparison base recorded in October 2011, when the devastating floods swamped about 10,000 factories and disrupted production in key sectors. The October expansion also saw a surge in the production of cars, electronics and electronic appliances. A month-on-month comparison confirms the strong annual expansion, as manufacturing production increased 4.9% in October in seasonally adjusted terms, which contrasted the 4.7% drop registered in September. As a result of the strong annual figure, the trend halted the virtually uninterrupted downward trajectory in place since the end of 2010, with the annual average variation in manufacturing output rising from minus 13.3% in September to minus 7.6% in October.
Manufacturing production rebounds in October amid low-base of comparison
November 30, 2012
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Thailand Industry Chart
Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Office of Industrial Economics (OIE) and FocusEconomics calculations.
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.