Thailand Industry July 2021

Thailand

Thailand: Manufacturing activity drops at sharpest pace in 15 months in July

August 27, 2021

Manufacturing output dived 5.1% in month-on-month seasonally-adjusted terms in July, which was a deterioration from June's 0.3% decrease. July's figure marked the worst reading since April 2020.

On an annual basis, manufacturing production rose at a more moderate pace of 5.1% in July (June: +18.3% yoy), the worst result since February. Meanwhile, annual average manufacturing output growth rose to 3.6% in July (June: +1.9%), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 8.0% in 2021, which is down 1.4 percentage points from last month’s estimate, and increase 7.8% in 2022.


Author:, Economist

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Thailand Industry July 2021

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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