Thailand Industry


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.

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 Chart

Thailand Industry May 2015

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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