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.
Author: Dirina Mançellari, Senior Economist