In January, manufacturing production rose 3.7% over the same month last year, which contrasted the revised 3.4% fall observed in December (previously reported: -2.5% year-on-year), but fell short of market expectations, which had seen industrial production expanding a more robust 4.1%. Manufacturing output bounced back in January, after recording its first annual contraction in December, which followed 13 consecutive months of positive growth. The January improvement was mainly the result of a sharp expansion in textiles as well as in radio, televisions and communication equipment. A month-on-month comparison corroborates the improvement suggested by annual figures, as manufacturing production expanded a solid 1.29% in January in seasonally adjusted terms, which exceeded the previous month's 0.45% increase. Owing to the moderate January reading, the trend continues to point downwards, with annual average growth in manufacturing output plummeting from 14.5% in December to 12.5% in January, after manufacturing output growth reached its peak in October 2010. Meanwhile, the Central Bank expects the economy to expand between 3.0% and 5.0% this year, while the National Economic and Social Development Board expects the economy to expand between 3.5% and 4.5% this year.
Manufacturing bounces back in January
February 28, 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.