Thailand: Manufacturing output falls for ninth consecutive month in December
February 28, 2014
In January, manufacturing production fell 6.4% over the same month last year, which was virtually in line with the 6.3% drop recorded in December (previously reported: -6.1% year-on-year). January's reading, which marked the ninth consecutive decline, was mainly driven by falling output in refinery and electronics.
On a monthly basis, manufacturing rose 0.1% in seasonally-adjusted terms, which was an improvement over the 1.6% fall recorded in December (previously reported: +1.5% month-on-month). Moreover, annual average growth in industrial production fell from minus 3.1% in December to minus 4.4% in January.
FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.6% in 2014, which is down 0.9 percentage points from last month's estimate. For 2015, the panel expects manufacturing to expand 5.9%.
Author: Dirina Mançellari, Senior Economist