Thailand Industry September 2019

Thailand

Thailand: Manufacturing output falls at an accelerated pace in September

November 8, 2019

Thai manufacturing production contracted 4.7% year-on-year in September, down from the 4.4% fall in August. The latest decline was driven by dropping output of food products; motor vehicles, trailers and semi-trailers; coke and refined petroleum products, likely suffering from low oil prices; computer and electronic products, amid a global tech slump; and rubber and plastic products.

Meanwhile, manufacturing output fell 2.3% month-on-month in September, down from the 0.4% contraction recorded in the prior month and marking the steepest monthly drop in a year. Lastly, annual average manufacturing output fell 1.3% in September, down from the 0.9% drop in the prior month and marking the lowest reading since May 2015.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.0% in 2020, which is up 0.2 percentage points from last month’s estimate. For 2021, the panel sees manufacturing output increasing 3.4%.


Author:, Economist

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Thailand Industry September 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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