Thailand: Manufacturing output drops for eighth-consecutive month in December
Thai manufacturing output fell 4.4% year-on-year in December, up from the 8.3% contraction recorded in November but marking the eighth consecutive month of contraction. The drop in December reflected steep falls in automotive and clothing production. Output in the refined petroleum, electronics, steel and iron, food, and rubber and plastics sectors also fell. December data capped a tough year for the Thai manufacturing sector as output fell 3.7% in 2019 compared to the year prior (2018: +3.6% year-on-year).
Sequential data provided a silver lining, however, as output rose 2.1% month-on-month in December (November: -1.6% month-on-month), marking the first monthly increase since July.