Thailand: Manufacturing output falls for eighth consecutive month in December
January 31, 2014
In December, manufacturing production fell 6.1% over the same month of the previous year, which marked an improvement over the revised 10.7% drop recorded in November (previously reported: -10.6% year-on-year). December's reading marked the eighth consecutive decline and was mainly driven by falling output in car production and textiles.
On a monthly basis, manufacturing rose 1.5% in seasonally-adjusted terms, which was down from the 2.1% rise recorded in November. Moreover, annual average growth in industrial production fell from minus 0.6% in November to minus 3.0% in December.
FocusEconomics Consensus Forecasts panelists expect manufacturing to expand 1.6% in 2014, which is down 0.9 percentage points from last month's estimate. For 2015, the panel expects manufacturing to expand 5.9%.
Author: Dirina Mançellari, Senior Economist