Thailand: Manufacturing output rebounds strongly in November

Manufacturing output jumped 4.2% in November in annual terms, sharply contrasting the previous month’s revised 0.3% contraction (previously reported: -0.1% year-on-year). Strong growth in the output of food products and beverages; rubber and plastic products; and motor vehicles, trailers and semi-trailers more than offset sharp contractions in the production of textiles and basic metals.

In seasonally-adjusted month-on-month terms, manufacturing output increased 4.1% in November, a significant rebound from October’s revised 4.4% contraction. Annual average growth in manufacturing production was, nonetheless, stable at the previous month’s level of 1.4%.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.3% in 2018, which is up 0.2 percentage points from last month’s estimate. For 2019, the panel expects manufacturing output to increase 2.6%.