Thailand Industry May 2019

Thailand

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.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.7% in 2019, which is up 0.2 percentage points from last month’s estimate. For 2020, the panel sees manufacturing output increasing 2.4%.


Author:, Economist

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Thailand Industry May 2019 0

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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