Thailand Industry January 2016

Thailand

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.

FocusEconomics Consensus Forecasts panelists expect manufacturing to contract 3.5% in 2016, which is down 0.1 percentage points from last month’s estimate. For 2017, the panel expects manufacturing to increase 3.0%.


Author:, Senior Economist

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Thailand Industry January 2016 0

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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