Thailand Industry June 2019

Thailand

Thailand: Manufacturing output fall at sharpest rate in over five years in June

July 30, 2019

Manufacturing output dropped a whopping 5.5% year-on-year in June, down from May’s revised 3.4% contraction (previously reported: -4.0% year-on-year) and closing the second quarter on a weak footing. June’s drop marked the strongest fall in production in over five years and came on the back of decreasing output in all major subgroups: food products; motor vehicles, trailers and semi-trailers; coke and refined petroleum products; rubber and plastics products; and computer and electronic products.

Meanwhile, manufacturing production in month-on-month terms contracted 2.2%, following May’s revised 2.1% fall (previously reported: -2.5% month-on-month). Annual average manufacturing growth was a meager 0.3% expansion, down from 1.2% in May.

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 June 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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