Thailand: Manufacturing contracts in March
April 30, 2015
In March, manufacturing production fell 1.8% over the same month last year, which contrasted the 3.0% increase observed in February and marked the fastest decrease since November 2014. The drop was mainly driven by decreasing output in the manufacturing of electronics and cars.
On a monthly basis, manufacturing output fell 5.6% in seasonally-adjusted terms, which contrasted the 2.0% increase recorded in February. However, annual average growth in industrial production improved from minus 3.4% in February to minus 2.7% in March, which marked the softest contraction in over a year.
Author: Dirina Mançellari, Senior Economist