Thailand: Manufacturing production drops at sharpest pace since March in November
Latest reading: Manufacturing output fell 3.6% year on year in November (October: -0.6% yoy). November’s figure marked the worst reading since March. The notable downturn was primarily due to contractions in automotive vehicles and chemical products output. Additionally, production of computer and electronic products contracted at a steeper pace than in October. On the other hand, refined petroleum products output rose at a stronger rate.
On a monthly basis, manufacturing output declined 2.0% in seasonally adjusted terms in November, contrasting October’s 0.8% expansion. Meanwhile, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 2.0%, down from October’s minus 1.8%.