Thailand: Manufacturing output falls for 14th consecutive month
June 30, 2014
In May, manufacturing production fell 4.1% over the same month last year, which mirrored the drop recorded in April and marked the 14th consecutive decline. May’s reading reflected yet again the country’s ongoing political turmoil. The decline was mainly driven by falling output in refinery.
On a monthly basis, manufacturing rose 1.1% in seasonally-adjusted terms, which was slightly down from the 1.3% increase recorded in April. Conversely, annual average growth in industrial production rose from minus 5.6% in April to minus 5.3% in May.
Author: Dirina Mançellari, Senior Economist