Thailand: Manufacturing contracts more in April
June 2, 2015
In April, manufacturing production fell 5.3% over the same month last year, which was a sharper contraction than the 1.7% decrease seen in the previous month. The figure marked the steepest drop in 10 months and was mainly driven by decreasing output in the manufacturing of electronics and cars.
On a monthly basis, manufacturing output fell 2.0% in seasonally-adjusted terms, which represented a smaller contraction than the 6.0% drop seen in March. As a result, annual average growth in industrial production decelerated from minus 2.7% in March to minus 2.8% in April.
Author: Dirina Mançellari, Senior Economist