Thailand Industry


Thailand: Manufacturing output improves in October

November 28, 2014

In October, manufacturing production fell 2.9% over the same month last year, which was an improvement over the 3.9% contraction observed in September. In addition, October’s reading marked the 19th consecutive monthly drop in manufacturing output. The improvement was mainly driven by increasing output in the manufacturing of electronics as well as in the manufacturing of chemicals and chemical products.

On a monthly basis, manufacturing output rose 2.0% in seasonally-adjusted terms, which contrasted the 4.7% contraction observed in September. In addition, annual average growth in industrial production inched up from minus 5.7% in September to minus 5.6% in October, thus reaching the highest level in five months.

FocusEconomics Consensus Forecasts panelists expect manufacturing to contract 3.6% in 2014, which is down 2.5 percentage points from last month’s estimate. For 2015, the panel expects manufacturing to rebound to 4.0% growth, which is down 0.8 percentage points from last month’s estimate.

Author:, Senior Economist

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Thailand Industry Chart

Thailand Industry October 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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