Thailand Industry July 2016

Thailand

Thailand: Manufacturing production plunges in July

August 31, 2016

In July, manufacturing production decreased 5.1% over the same month last year, which was a sharp fall from the 1.4% increase seen in June and marked the lowest reading in over one-and-a-half years. The manufacturing of tobacco products and garments recorded the steepest drops, though the majority of the sub-sectors saw a decline in output in July.

On a monthly basis, manufacturing output decreased a seasonally-adjusted 3.8% in July, which was a deterioration from the 0.9% decline recorded in June and the weakest figure since the beginning of the year. Moreover, annual average growth in manufacturing production contracted 0.2% in July, which contrasted the 0.5% expansion seen in June.

FocusEconomics Consensus Forecasts panelists expect manufacturing to contract 1.4% in 2016, which is unchanged from last month’s estimate. For 2017, the panel expects manufacturing to increase 2.9%.


Author: Marlène Rump, Senior Data Analyst

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Thailand Industry July 2016

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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