Thailand Industry

Thailand

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.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.8% in 2014, which is down 0.3 percentage points from last month’s estimate. For 2015, the panel expects manufacturing to expand 6.1%.


Author:, Senior Economist

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Thailand Industry May 2014

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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