Thailand Industry July 2020

Thailand

Thailand: Manufacturing production eases in July

August 28, 2020

On an annual basis, manufacturing production dived 14.7% in July, although this was notably better than June’s 17.8% fall. However, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 10.3% in July, down from June's minus 9.3%.

More positively, manufacturing output grew 4.3% month-on-month in seasonally-adjusted terms in July (June: +5.4% mom)., the second straight month of growth. The reading was driven by a strong uptick in the production of automobiles, rubber and plastic products, and electronic components.

FocusEconomics Consensus Forecast panelists expect manufacturing output to fall 10.7% in 2020, which is down 0.9 percentage points from last month’s estimate. For 2021, the panel sees manufacturing output increasing 7.3%.


Author:, Economist

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Thailand Industry July 20 20

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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