Thailand Industry August 2018

Thailand

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%.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 3.6% in 2018, which is up 0.1 percentage points from last month’s estimate. For 2019, the panel sees manufacturing output increasing 3.3%, down 0.4 percentage points from the previous month’s forecast.


Author:, Economist

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Thailand Industry August 2018

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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