Thailand Industry January 2020

Thailand

Thailand: Manufacturing output drops for ninth consecutive month in January

February 27, 2020

Manufacturing output dropped 4.6% year-on-year in January, down from the 4.4% contraction in the prior month and marking the ninth consecutive month of falling production. January’s figure was underpinned by steep drops in the production of cars; food; rubber and plastic products; apparel; electronic components and boards; and petroleum refining products. Annual average production, meanwhile, contracted 4.0% in January, down from December’s 3.6% fall.

More positively, manufacturing production rose 4.4% month-on-month in January, up from the 2.6% expansion recorded in December.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.3% in 2020, which is down 0.4 percentage points from last month’s estimate. For 2021, the panel sees manufacturing output increasing 4.2%.


Author:, Economist

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Thailand Industry January 20 20 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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