Thailand Industry

Thailand

Thailand: Contraction in manufacturing worsens in June

July 31, 2015

In June, manufacturing production fell 8.0% over the same month last year, which was a sharper contraction than the 7.6% decrease seen in the previous month. The figure marked the steepest drop in almost one-year-and-a-half and was mainly driven by decreasing output in the manufacturing of food and beverages.

On a monthly basis, manufacturing output decreased 3.5% in seasonally-adjusted terms, which contrasted the 1.4% rise seen in May and marked a three-month low. Annual average growth in industrial production fell from minus 3.3% in May to minus 3.4% in June.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.8% in 2015, which is down 0.3 percentage points from last month’s estimate. For 2016, the panel expects manufacturing to expand 6.1%.


Author:, Senior Economist

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Thailand Industry June 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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