Thailand Industry August 2021

Thailand

Thailand: Decline in manufacturing production softens in August

September 28, 2021

Manufacturing output slid 3.5% in month-on-month seasonally-adjusted terms in August, which was a smaller drop than July's 6.0% decrease. August’s reading reflected a strong rebound in the manufacture of electronic components production, tempered by falling automotive production.

On an annual basis, manufacturing production declined 4.1% in August, which contrasted July’s 3.9% expansion and marked the worst result since August 2020. Meanwhile, annual average manufacturing output growth rose to 4.0% in August (July: +3.5%), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 7.0% in 2021, which is down 1.0 percentage points from last month’s estimate, and increase 6.9% in 2022.


Author:, Economist

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Thailand Industry August 2021

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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