Thailand: Decline in manufacturing production softens in January
Latest reading: Manufacturing production decreased 0.9% year on year in January (December: -1.8% yoy). Looking at the details of the release, chemical products output gained steam. Moreover, output of refined petroleum products and of computer and electronic goods rebounded. Less positively, food production nearly ground to a halt in January, while automotive vehicles output contracted at a sharper rate.
On a seasonally adjusted monthly basis, manufacturing production rose 1.8% in January (December: -0.4% mom s.a.). Meanwhile, the trend improved slightly, with the annual average variation of manufacturing production coming in at minus 1.2%, up from December’s minus 1.3%.