Thailand Industry June 2018


Thailand: Manufacturing production overshoots market expectations in June

July 31, 2018

Manufacturing output grew 4.7% year-on-year in June, which was above May’s revised 2.9% annual increase (previously reported: +3.2% year-on-year). This acceleration, which followed six consecutive months of moderation, was notably above more moderate market expectations of a 3.0% yoy expansion. June’s print benefited from higher production of motor vehicles, trailers and semi-trailers; food products; computer, electronic and optical products; and rubber and plastic products. This offset marked contractions in the output of textiles, tobacco products, and beverages.

On a seasonally-adjusted month-on-month basis, manufacturing production growth in June slowed marginally to 1.5% from the previous month’s revised 1.7% (previously reported: +1.8% month-on-month). Annual average manufacturing output growth, however, increased to 4.3% in June from 4.0% in May.

Thailand Manufacturing Output Forecast

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 3.2% in 2018, which is up 0.4 percentage points from last month’s estimate. For 2019, the panel sees manufacturing output increasing 3.5%.

Author:, Economist

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Thailand Industry Chart

Thailand Industry June 2018

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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