Thailand Industry May 2022

Thailand

Thailand: Manufacturing activity deteriorates in May

June 30, 2022

Manufacturing production fell 1.9% month-on-month in seasonally-adjusted terms in May (April: -0.4% mom).

On an annual basis, manufacturing output dropped 2.1% in May, which was significantly below April’s flat reading and marked the worst result since August 2021. Moreover, the trend pointed down, with the annual average growth of manufacturing production coming in at 2.7%, down from April's 4.8% reading.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 5.4% in 2022, which is up 0.5 percentage points from last month’s estimate, and increase 3.6% in 2023.


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