Thailand Industry September 2018

Thailand

Thailand: Thai manufacturing output contracts in September

October 30, 2018

Manufacturing output contracted 2.6% year-on-year in September, contrasting a slightly revised 0.8% expansion in August (previously reported: +0.7% year-on-year) and below market expectations of a more moderate 0.5% drop. The result marks the first contraction since April last year and the weakest reading since July 2016. The headline figure was driven by marked drops in the manufacturing of motor vehicles, trailers and semi-trailers; rubber and plastic products; and electrical equipment.

On a seasonally-adjusted month-on-month basis, manufacturing production dropped 1.2% in September, contrasting the 0.3% increase recorded in August. Finally, annual average manufacturing output growth eased to 3.3% in September from 4.0% in August.

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:, Economist

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Thailand Industry September 2018 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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