Thailand Industry February 2016

Thailand

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.

FocusEconomics Consensus Forecasts panelists expect manufacturing to contract 3.5% in 2016, which is down 0.1 percentage points from last month’s estimate. For 2017, the panel expects manufacturing to increase 3.0%.


Author:, Senior Economist

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Thailand Industry February 2016

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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