Thailand: Manufacturing swings to contraction in January
March 16, 2016
In January, manufacturing production dropped 3.3% over the same month last year, which contrasted the 1.3% increase observed in December and marked the lowest reading since November 2014. The result was mainly driven by decreasing refinery output and textiles manufacturing.
On a monthly basis, manufacturing output dropped 4.8% in seasonally-adjusted terms, which contrasted the 2.5% increase tallied in December and marked the lowest reading in over three years. Moreover, annual average growth in industrial production decreased from 0.4% in December to a flat reading in January.
Author: Dirina Mançellari, Senior Economist