Thailand: Manufacturing activity deteriorates in June
Manufacturing output dropped 1.7% in year-on-year terms in June, which was a larger contraction than May’s 1.5% decrease. June’s downturn largely reflected a deterioration in automotive vehicles and chemical products output. Moreover, computer and electronic products output dipped at a steeper pace than in May. However, both food and refined petroleum products output gained traction.
Meanwhile, the trend improved, with the annual average variation of manufacturing production coming in at minus 3.0% in June, up from May’s minus 3.2%. On a seasonally adjusted monthly basis, manufacturing production fell at a softer pace of 0.6% in June (May: -0.8% mom).