Thailand: Manufacturing production drops at sharpest pace in eight-and-a-half years in April
Manufacturing output fell 17.21% year-on-year in April (March: -10.5% year-on-year). April’s reading marked the steepest fall since October 2011. April’s figure largely reflected plummeting output of autos; petroleum refining products; basic iron and steel; and rubber and plastic products. Accordingly, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 6.4% in April, down from March’s minus 4.9%.
Meanwhile, manufacturing production fell 9.4% month-on-month in seasonally-adjusted terms (March: -5.1% month-on-month seasonally-adjusted).