Thailand: Growth in manufacturing output eases markedly in January

Manufacturing output grew a meager 0.2% year-on-year in January, down from a revised 1.2% expansion in December (previously reported: +0.8% year-on-year). Output of food products; coke and refined petroleum products; and motor vehicles, trailers and semi-trailers expanded but this was chiefly limited by drops in the manufacturing of rubber and plastics products, and computer and electronic products.

Compared to the previous month, manufacturing production swung from a 1.9% contraction in non-seasonally-adjusted terms in December to a 4.3% expansion in January. Lastly, annual average manufacturing output moderated from 3.7% in December to 3.2% in January.

Thailand Manufacturing Output Forecast

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.9% in 2019, which is unchanged from last month’s estimate. For 2020, the panel sees manufacturing output increasing 2.7%.