Thailand: Manufacturing activity declines in February
Latest reading: Manufacturing production dropped 3.9% year on year in February (January: -1.1% yoy). February’s figure marked the worst reading since December 2023 and was chiefly driven by a sharper contractions in food and personal computers production. In addition, output of chemical and refined petroleum products swung into decline. Lastly, vehicle production fell at a softer rate.
On a seasonally adjusted monthly basis, manufacturing output fell 1.0% in February (January: +1.7% mom s.a.). Meanwhile, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 1.3% in February, down from January’s minus 1.2%.