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.
Author: Stephen Vogado, Economist