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.
Author: Jan Lammersen, Economist