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.
Author: Dirina Mançellari, Senior Economist