Thailand: Decline in manufacturing production softens in August
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.