Thailand Industry

Thailand

Thailand: Manufacturing output records the 15th consecutive drop

July 31, 2014

In June, manufacturing production fell 6.6% over the same month last year, which was a deterioration over the 4.0% decrease recorded in May and marked the 15th consecutive decline. June’s reading reflected yet again the country’s ongoing political turmoil. The decline mainly was driven by falling output in the refinery and electronics sectors.

On a monthly basis, manufacturing output fell 2.6% in seasonally-adjusted terms, which contrasted the 1.4% increase recorded in May. In addition, annual average growth in industrial production fell from minus 5.3% in May to minus 5.6% in June.

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 June 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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