Thailand: Manufacturing output surges in November amid low-base of comparison
December 28, 2012
In November, manufacturing production skyrocketed 83.3% over the same month the previous year, which came in well above both the hefty 36.0% expansion observed in October and market expectations that had manufacturing output increasing 68.5%. The strong monthly climb benefited from a low comparison base, as in November 2011 a devastating flood swamped industrial zones and hampered production in key sectors.
A month-on-month comparison saw factory output surging 8.6% in November in seasonally adjusted terms, which followed the strong 7.1% expansion recorded in October.
As a result of the strong annual figure, the trend is now pointing upwards, with the annual average variation in manufacturing output swinging from minus 7.6% in October to plus 3.2% in November, the first positive reading after 13 consecutive declines.
Author: Ricardo Aceves, Senior Economist