Thailand Industry December 2018


Thailand: Growth in manufacturing output eases markedly in November

January 31, 2019

Growth in manufacturing output inched down to 0.8% year-on-year in December from a revised 0.9% in November (previously reported: +1.0% year-on-year) but matched market expectations. The result came on the tails of robust growth in the production of motor vehicles, trailers and semi-trailers; beverages; and wearing apparel, being offset by a strong drop in output of rubber and plastic products, followed by small contractions in the production of food products and computer, electronic and optical products.

On a seasonally-adjusted month-on-month basis, manufacturing production contracted a strong 3.1% in December. This contrasts the 1.6% expansion recorded in November. Lastly, annual average manufacturing output eased from 3.2% in November to 2.8% in December.

Thailand Manufacturing Production Forecast

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 December 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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