Thailand: Manufacturing rebounds strongly in October
November 30, 2018
Manufacturing production rebounded strongly and swung from a revised 2.7% year-on-year contraction in September (previously reported: -2.6% year-on-year) to expand 4.1% in October. The headline figure, which came in significantly above market expectations of a 2.8% increase, reflected strong growth in the manufacturing of motor vehicles, trailers and semi-trailers; and food products. This offset marked contraction in the output of rubber and plastic products; and computer, electronic and optical products.
On a seasonally-adjusted month-on-month basis, manufacturing production expanded 2.1% in October from a 0.9% drop in September. Lastly, annual average manufacturing output grew 3.6% in October, up from September’s 3.3%
Thailand Manufacturing Output Forecast
FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 3.0% in 2019, which is unchanged from last month’s estimate. For 2020, the panel sees manufacturing output increasing 2.8%.
Author: Jan Lammersen, Economist