Thailand: Manufacturing contracts less in February
April 21, 2016
In February, manufacturing production dropped 1.6% over the same month last year, which followed the 3.5% decrease observed in January. February’s reading had marked the lowest reading since November 2014. The result was mainly driven by decreasing refinery output and textiles manufacturing.
On a monthly basis, manufacturing output increased 2.2% in seasonally-adjusted terms, which contrasted the 4.9% decrease tallied in January. Moreover, annual average growth in industrial production decreased from a flat reading in January to minus 0.3% in February.
Author: Dirina Mançellari, Senior Economist