Thailand Industry

Thailand

Thailand: Manufacturing output contracts at softest rate in more than a year

September 30, 2014

In August, manufacturing production fell 2.7% over the same month last year, which was up from the 5.3% decrease recorded in July and marked the softest contraction since March 2013. August’s reading, however, recorded the 17th consecutive drop in manufacturing output. The decline was mainly driven by falling output in the manufacturing of textiles and electronics.

On a monthly basis, manufacturing output rose 3.8% in seasonally-adjusted terms, which contrasted the 0.1% decrease recorded in July. However, annual average growth in industrial production was stable at July’s 5.6%.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.8% in 2014, which is down 0.3 percentage points from last month’s estimate. For 2015, the panel expects manufacturing to expand 6.1%.


Author:, Senior Economist

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Thailand Industry August 2014

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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