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.
Author: Dirina Mançellari, Senior Economist