Thailand: Manufacturing production picks up pace in April
May 31, 2018
Manufacturing growth accelerated from a revised 3.2% year-on-year in March (previously reported: +2.6% year-on-year) to 4.0% yoy in April. The result was slightly above market expectations of a 3.9% annual increase. April’s result reflected robust increases in the production of food products; motor vehicles, trailers and semi-trailers; and, computer, electronic and optical products. However, the expansion was restrained by contractions in the manufacturing of rubber and plastic products; basic metals; and, textiles.
In seasonally-adjusted month-on-month terms, manufacturing production contracted 0.8% in April, a sharper drop than the prior month’s 0.3% decline. Finally, annual average growth in manufacturing output picked up pace from 3.6% in March to 4.0% in April.
Thailand Manufacturing Output Forecast
FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 2.7% in 2018, which is up 0.2 percentage points from last month’s estimate. For 2019, the panel expects manufacturing output to increase 2.6%.
Author: Jan Lammersen, Economist