Thailand: Contraction in manufacturing lessens in July
September 2, 2015
In July, manufacturing production fell 5.3% over the same month last year, which was a weaker contraction than the 7.7% decrease seen in the previous month. The figure marked the softest drop in four months and was mainly driven by decreasing output in the manufacturing of food and beverages.
On a monthly basis, manufacturing output increased 2.6% in seasonally-adjusted terms, which contrasted the 3.3% drop seen in June and marked an 11-month high. Annual average growth in industrial production was stable at June’s minus 3.4%.
Author: Dirina Mançellari, Senior Economist