Thailand: Manufacturing production rebounds in July
Manufacturing output expanded 1.8% year on year in July (June: -1.6% yoy). Looking at the details of the release, chemical products output gained steam, while production of computer and electronic products, and of automotive vehicles decreased at softer rates than in June. Less positively, food products output, and refined petroleum production growth weakened in July.
Meanwhile, the trend improved, with the annual average variation of manufacturing production coming in at a one-year high of minus 2.6% in July, up from June’s minus 3.0%. On a monthly basis, manufacturing production grew 2.5% in seasonally adjusted terms in July, rebounding from June’s 0.4% fall.