Thailand: Contraction in manufacturing steepens in October
December 4, 2015
In October, manufacturing production fell 4.2% over the same month last year, which was a stronger contraction than the 0.4% decrease seen in the previous month and marked the lowest figure in nearly a year. The reading was mainly driven by falling output in refinery output and in the manufacturing of textiles.
On a monthly basis, manufacturing output contracted 0.3% in seasonally-adjusted terms, which contrasted the 1.7% increase seen in September and marked a five-month low. Moreover, annual average growth in industrial production decreased from minus 0.1% in September to minus 0.4% in October.
Author: Dirina Mançellari, Senior Economist