Thailand Industry

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Thailand: Manufacturing improves in February

March 31, 2015

In February, manufacturing production rose 3.6% over the same month last year, which contrasted the 0.8% drop observed in January and marked the fastest increase since January 2013. February’s reading marked the first increase in manufacturing output after 21 consecutive drops. The rise was mainly driven by increasing output in the manufacturing of electronics and cars.

On a monthly basis, manufacturing output rose 2.4% in seasonally-adjusted terms, which was better than the 1.1% increase recorded in January. In addition, annual average growth in industrial production improved from minus 4.1% in January to minus 3.4% in February, which marked the softest contraction 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 February 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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