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.
Author: Dirina Mançellari, Senior Economist