Thailand: Manufacturing output drops at sharpest rate in nearly five years in May
June 28, 2019
Thai manufacturing output fell 4.0% year-on-year in May, swinging from a revised 1.5% expansion in April (previously reported: +2.0% year-on-year). The drop in production came on the back of a widespread contraction: manufacturing of food products; motor vehicles, trailers and semi-trailers; computer and electronic products; rubber and plastic products; and chemicals and chemical products all fell.
In month-on-month terms, production dropped 2.5% in May, contrasting the 2.0% increase in the prior month. Annual average manufacturing growth, meanwhile, moderated to 1.2% in May from 1.9% in April.
Author: Jan Lammersen, Economist