Thailand: Thai manufacturing growth decelerates strongly in August
September 27, 2018
Manufacturing output growth slowed to 0.7% year-on-year in August, down noticeably from July’s upwardly revised 4.9% (previously reported: +4.6% year-on-year) and marking the weakest reading since April 2017. The result was supported by robust output growth in computer, electronic and optical products. However, contractions in the manufacturing of motor vehicles, trailers and semi-trailers; rubber and plastic products; and electrical equipment dragged on the headline figure.
On a seasonally-adjusted month-on-month basis, manufacturing production expanded 0.4% in August, contrasting July’s 0.4% contraction. Lastly, annual average manufacturing output growth moderated to 4.0% in August from July’s 4.4%.
Author: Jan Lammersen, Economist