Thailand Industry April 2017

Thailand

Thailand: Manufacturing production drops again in April

May 31, 2017

In April, manufacturing production decreased 1.7% from the same month last year, which was below the flat reading in March. April’s figure also differed from the 0.6% decline that analysts had expected. The decline in output was visible across the board, with manufacturing of motor vehicles, chemicals and furniture showing particularly pronounced contractions.

On a monthly basis, manufacturing output decreased a seasonally-adjusted 0.8% in April, contrasting the 1.2% increase in March. The trend is now clearly pointing downward: annual average growth in manufacturing production was 1.2% in April, down from March’s 1.7%.

FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.9% in 2017, which is unchanged from last month’s estimate. For 2018, the panel expects manufacturing to increase 3.2%.


Author: Marlène Rump, Senior Data Analyst

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Thailand Industry April 2017

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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