Thailand: Manufacturing contracts more in May
June 30, 2015
In May, manufacturing production fell 7.6% over the same month last year, which was a sharper contraction than the 7.1% decrease seen in the previous month. The figure marked the steepest drop in over a year and was mainly driven by decreasing output in the manufacturing of electronics and cars.
On a monthly basis, manufacturing output increased 1.4% in seasonally-adjusted terms, which contrasted the 3.6% drop seen in April and marked a three-month high. Annual average growth in industrial production decelerated from minus 2.9% in April to minus 3.2% in May.
Author: Dirina Mançellari, Senior Economist