Thailand: Manufacturing production contracts at sharpest rate since March in August
Latest reading: Manufacturing output fell 1.9% year on year in August (July: +1.6% yoy). August’s figure marked the worst reading since March. The result was largely due to weaker food products output growth. In addition, both chemical and refined petroleum products output lost pace. That said, computer and electronic products decreased at a softer pace than in July.
Meanwhile, the trend improved, with the annual average variation of manufacturing production coming in at minus 2.2%, up from July’s minus 2.6%. On a monthly basis, manufacturing output fell 3.0% in seasonally adjusted terms in August, contrasting July’s 2.4% expansion and marking the worst result since April 2023.