Thailand: Manufacturing output falls at an accelerated pace in September
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.