Thailand: Manufacturing production shrinks more slowly in May
Latest reading: Manufacturing production was down 0.8% on a year-on-year basis in May, following a 0.9% fall in the previous month.
Relative to the prior month’s data, the reading for refined petroleum products improved in May (+5.3% on a year-on-year basis vs -0.5% in April). In contrast, readings softened for food products (-1.8% vs -0.3% in April), automotive vehicles (-8.5% vs +1.1% in April), chemical products (-2.6% vs -1.1% in April) and computer and electronic products (+0.5% vs +7.5% in April).
In seasonally adjusted month-on-month terms, manufacturing output declined 0.3% in May, following a 0.1% drop in the previous month.