Thailand: Contraction in manufacturing steepest in August
September 30, 2015
In August, manufacturing production fell 8.3% over the same month last year, which was a stronger contraction than the 5.3% decrease seen in the previous month. The figure marked the steepest drop in over a year and was mainly driven by decreasing output in the manufacturing of food and beverages.
On a monthly basis, manufacturing output increased 2.1% in seasonally-adjusted terms, which was up from the 1.7% increase seen in July and marked a six-month high. Annual average growth in industrial production dropped from minus 3.4% in July to minus 3.9% in August, which marked the lowest reading since January.
Author: Dirina Mançellari, Senior Economist