Thailand Industry May 2016


Thailand: Manufacturing improves in May

July 14, 2016

In May, manufacturing production increased 2.6% over the same month last year, which was up from the 0.9% increase observed in April and marked the highest figure in 10 months. The result was mainly driven by increasing refinery output and textiles manufacturing.

On a monthly basis, manufacturing output increased 0.3% in seasonally-adjusted terms, which contrasted the 0.7% decrease tallied in April. Moreover, annual average growth in industrial production moved up from 0.1% increase in April to a 0.3% rise in May.

FocusEconomics Consensus Forecasts panelists expect manufacturing to contract 1.4% in 2016, which is down 0.3 percentage points from last month’s estimate. For 2017, the panel expects manufacturing to increase 2.9%.

Author:, Senior Economist

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Thailand Industry Chart

Thailand Industry May 2016 0

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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