Thailand Industry October 2017


Thailand: Manufacturing output contracts marginally in October

November 30, 2017

Manufacturing output decreased a marginal 0.1% in October in annual terms, sharply contrasting the previous month’s revised 4.6% expansion (previously reported: +4.2% year-on-year). The fourth quarter started off on a much weaker footing compared to Q3, in which the manufacturing sector posted robust growth rates unabatedly. It seemingly resumed the volatile trajectory seen throughout H1. A marked increase in rubber and plastics products output was not enough to offset a significant drop in the output of tobacco products, textiles, and furniture.

In seasonally-adjusted month-on-month terms, manufacturing output contracted 4.5% in October over the previous month, a significant swing from September’s 0.6% expansion. As a result, annual average growth in manufacturing production inched down from 1.5% in September to 1.4% in October.

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 2.1% in 2018, which is unchanged from last month’s estimate. For 2019, the panel expects manufacturing output to increase 2.8%.

Author:, Economist

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Thailand Industry Chart

Thailand Industry October 2017

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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