Thailand Industry December 2017

Thailand

Thailand: Manufacturing output growth moderates in December

January 31, 2018

Manufacturing output expanded 2.3% annually in December, down from November’s revised 4.1% jump (previously reported: +4.3% year-on-year). Strong growth was recorded in the production of motor vehicles, trailers and semi-trailers, as well as in the manufacture of rubber and plastics products. It was not, however, enough to offset notable contractions in the production of basic metal; textiles; and fabricated metal products, except machinery and equipment.

In seasonally-adjusted month-on-month terms, manufacturing output fell 0.8% in December, reverting to negative territory following November’s robust 4.0% growth. Nevertheless, annual average growth in manufacturing production came in at 1.6% in December, marginally above November’s 1.4% print and marking the highest reading since March.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.1% in 2018, which is down 0.2 percentage points from last month’s estimate. For 2019, the panel expects manufacturing output to increase 2.6%.


Author:, Economist

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Thailand Industry December 2017

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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