Thailand Industry

Thailand

Thailand: Manufacturing contracts less in December

January 30, 2015

In December, manufacturing production fell 0.3% over the same month of the previous year, which was up from the 3.7% decrease recorded in November. December’s reading, which was the softest decline in nearly two years, marked the 20th consecutive drop in manufacturing output. The decline was mainly driven by falling output in the manufacturing of electronics and cars.

On a monthly basis, manufacturing output rose 0.6% in seasonally-adjusted terms, which contrasted the 1.2% increase recorded in November. In addition, annual average growth in industrial production inched up from minus 5.0% in November to minus 4.5% in December.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.8% in 2015, which is down 0.3 percentage points from last month’s estimate. For 2016, the panel expects manufacturing to expand 6.1%.


Author:, Senior Economist

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Thailand Industry December 2014

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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