Thailand Industry March 2017

Thailand

Thailand: Manufacturing production slips in March

In March, manufacturing production decreased 0.5% from the same month last year, which was a softer decline than the 1.1% drop in February. March’s figure also differed from the 1.7% decline that analysts had expected. Manufacturing of motor vehicles and furniture contracted, offsetting the gains made in electronics output, which is a combination of home electronics and office equipment.

On a monthly basis, manufacturing output increased a seasonally-adjusted 0.7% in March, contrasting the 0.6% drop in February. Annual average growth in manufacturing production was 1.7% in March, below February’s 2.0%.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 2.1%, in 2017, which is unchanged from last month’s estimate. For 2018, the panel expects manufacturing to increase 3.6%


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Thailand Industry March 2017

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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