Thailand Industry March 2019

Thailand

Thailand: Manufacturing output drops in March

April 30, 2019

Manufacturing production fell 2.5% year-on-year in March, down from a revised 1.3% drop in the prior month (previously reported: -1.6% year-on-year). The print came of the back of a noticeable drop in output of food products; computer and electronic products; and rubber and plastics products.

Output in month-on-month terms, however, rose 0.2% in March, contrasting a steep 2.9% contraction in February. Lastly, annual average manufacturing output moderated to 2.1% in March from 2.7% in February.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.0% in 2019, which is down 0.5 percentage points from last month’s estimate. For 2020, the panel sees manufacturing output increasing 2.2%.


Author:, Economist

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Thailand Industry March 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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