In April, manufacturing production shrunk 7.8% over the same month last year, which was below the 6.7% contraction observed in March and undershot market expectations, which had seen manufacturing output dropping a more moderate 5.0%. The April result represented the third straight month with industrial production mired in the red and also marked the sharpest contraction since August 2009. The monthly contraction continued to reflect the impact of supply chain disruptions caused after the Japanese catastrophes in March, as manufacturing of electronics and computing machinery fell 16.8% year-on-year (March: -20.2% yoy). In addition, contractions in the manufacturing of communication equipment (-1.2% yoy) as well as in the production of furniture (-25.0% yoy) also contributed to April result. A month-on-month assessment, in fact, points to an even sharper deterioration than the contraction suggested by the annual figures, as manufacturing production fell a seasonally adjusted 3.30% over the previous month, which was well below the 0.70% drop observed in March. Owing to the monthly fall and the earthquake's negative economic impact, the trend suggests that the manufacturing sector's performance will remain sluggish in the months ahead, with annual average growth in manufacturing output falling from 6.4% in March to 4.1% in April, the slowest pace in more than a year.
Manufacturing output contracts for the third consecutive month
May 31, 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.