Thailand: Manufacturing output contracts for 16th consecutive months
August 29, 2014
In July, manufacturing production fell 5.2% over the same month last year, which was up from the 6.6% decrease recorded in June but marked the 16th consecutive decline. July’s reading reflected yet again the country’s ongoing political turmoil. The decline was mainly driven by falling output in the manufacturing and electronics sectors.
On a monthly basis, manufacturing output fell 0.1% in seasonally-adjusted terms, which was up from the 2.6% decrease recorded in June. However, annual average growth in industrial production was stable at June’s 5.6%.
Author: Dirina Mançellari, Senior Economist