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%.
Author: Dirina Mançellari, Senior Economist