Meanwhile, the Bank of Thailand anticipates that economic activity will grow 4.1% this year before accelerating further in 2012 to reach 4.2%. In May, manufacturing production fell 3.9% over the same month last year, which, nonetheless represented an improvement compared to the revised 8.1% contraction tallied in April (previously reported: -7.8% year-on-year), overshooting market analyst predictions that manufacturing output would drop 4.8%. Despite the improvement, the May result represented the fourth consecutive month of declining manufacturing output. The monthly contraction continued to reflect the supply chain disruptions related to the Japanese catastrophes of 11 March, in particular in the production of automobiles (April: -27.8% yoy; May: -32.5% yoy). In contrast, electronics manufacturing swung from a 16.8% contraction in April to a 0.2% increase in May. A month-on-month assessment confirms the improvement suggested by the annual figures, as manufacturing production rose a seasonally adjusted 0.69% over the previous month, which contrasted the 3.53% drop observed in April. Owing to the monthly fall and the earthquake's negative economic impact, the trend suggests that the manufacturing sector's performance will remain anaemic in the months ahead, with annual average growth in manufacturing output falling from 4.1% in April to 2.5% in May.
Manufacturing output contracts for the fourth consecutive month
June 30, 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.