Thailand Industry

Thailand

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%.

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 July 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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