Thailand Industry

Thailand

Thailand: Manufacturing contracts more in January

February 27, 2015

In January, manufacturing production fell 1.3% over the same month last year, which followed the 0.3% decrease seen in December. January’s reading marked the 21th consecutive drop in manufacturing output. The decline was mainly driven by falling output in the manufacturing of electronics as well as of coke, and refined petroleum products.

On a monthly basis, manufacturing output rose 0.4% in seasonally-adjusted terms, which contrasted the 0.6% drop recorded in December. In addition, annual average growth in industrial production rose from minus 4.5% in December to minus 4.1% in January, which marked the highest rate in over a year.

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 January 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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