Thailand: Manufacturing output unexpectedly expands in March
April 26, 2013
In March, manufacturing production rose 0.5% over the same month last year, which contrasted the 1.2% drop observed in February and market expectations of a 1.0% drop. The expansion reflected, in particular, strong growth in the manufacture of textiles.
A month-on-month comparison saw factory output rising in March a robust 4.1% in seasonally adjusted terms, which contrasts the 1.5% drop recorded in February. Building on the healthy reading, annual average growth in industrial production rose from 9.3% in February to 9.6% in March.
For 2013, the Office of Industrial Economics sees manufacturing production rising between 3.5% and 4.5%. FocusEconomics Consensus Forecasts panellists expect manufacturing to expand 6.6% in 2013, which up 0.4 percentage points from last month's estimate. For 2014, the panel predicts manufacturing to expand 6.9%.
Author: Armando Ciccarelli, Head of Data Solutions