Thailand Industry


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.

FocusEconomics Consensus Forecasts panelists expect manufacturing to contract 3.5% in 2015, which is down 0.1 percentage points from last month’s estimate. For 2016, the panel expects manufacturing to increase 3.0%, which is down 0.4 percentage points from last month’s estimate.

Author:, Senior Economist

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Thailand Industry Chart

Thailand Industry October 2015

Note: Year-on-year changes and annual average variation of manufacturing production index in %.
Source: Office of Industrial Economics (OIE) and FocusEconomics calculations.

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