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: Jan Lammersen, Economist