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Thailand Industrial production May 2024

Thailand: Manufacturing activity deteriorates in May

Manufacturing production slid 1.5% year on year in May (April: +2.7% yoy). Looking at the details of the release, food products output lost steam in May. In addition, refined petroleum products swung into contraction, while both automotive vehicles output and computer and electronic products fell at faster rates.

Nonetheless, the trend improved slightly, with the annual average variation of manufacturing production coming in at minus 3.3% in May, up from April’s minus 3.4%.On a seasonally adjusted monthly basis, manufacturing production fell 0.6% May (April: +3.5% mom).

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