Thailand: Decline in manufacturing production softens in March
Latest reading: Manufacturing output fell 0.7% compared to the same month of the previous year in March, which was a smaller drop than markets had anticipated and February’s 3.9% decrease. March’s softer contraction was largely driven by rebounds in the output of computer and electronic products, food and chemical products. Moreover, output of vehicles and refined petroleum decreased less sharply in March than in the prior month.
On a monthly basis, manufacturing output increased 1.0% in seasonally adjusted terms in March, rebounding from February’s 1.0% fall. Meanwhile, the trend improved slightly, with the annual average variation of manufacturing production coming in at minus 1.1% in March, up from February’s minus 1.3%.