Thailand Industry February 2019

Thailand

Thailand: Manufacturing output drops markedly in February

March 28, 2019

Manufacturing output fell 1.6% year-on-year in February, contrasting the upwardly revised 0.6% expansion in January (previously reported: +0.2% year-on-year). The result reflected drops in the production of food products; rubber and plastic products; computer and electronic products; and chemicals and chemical products. These offset steady growth in the output of motor vehicles, trailers and semi-trailers as well as coke and refined petroleum products.

In month-on-month terms, manufacturing output contracted 2.9% in February, swinging from a 0.1% increase in January. Finally, annual average manufacturing output moderated from 3.2% in January to 2.7% in February.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.9% in 2019, which is unchanged from last month’s estimate. For 2020, the panel sees manufacturing output increasing 2.7%.


Author:, Economist

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Thailand Industry February 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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