Thailand Industry November 2018


Thailand: Growth in manufacturing output eases markedly in November

December 28, 2018

Manufacturing production moderated strongly to a 1.0% year-on-year expansion in November from an upwardly revised 5.8% increase in October (previously reported: +4.1% year-on-year) and came in below market expectations. The result mainly reflected a double-digit contraction in the manufacturing of rubber and plastic products while manufacturing of food products, and computer, electronic and optical products expanded at a soft pace. Production of motor vehicles, trailers and semi-trailers expanded strongly, however.

On a seasonally-adjusted month-on-month basis, manufacturing production eased from a 2.6% expansion in October to a 1.5% increase in November. Lastly, annual average manufacturing output grew 3.3% in November, down from 3.7% in October.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 3.0% in 2019, which is unchanged from last month’s estimate. For 2020, the panel sees manufacturing output increasing 2.8%.

Author:, Economist

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Thailand Industry Chart

Thailand Industry November 2018 0

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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