Thailand: Manufacturing output growth moderates in December
Manufacturing output expanded 2.3% annually in December, down from November’s revised 4.1% jump (previously reported: +4.3% year-on-year). Strong growth was recorded in the production of motor vehicles, trailers and semi-trailers, as well as in the manufacture of rubber and plastics products. It was not, however, enough to offset notable contractions in the production of basic metal; textiles; and fabricated metal products, except machinery and equipment.
In seasonally-adjusted month-on-month terms, manufacturing output fell 0.8% in December, reverting to negative territory following November’s robust 4.0% growth. Nevertheless, annual average growth in manufacturing production came in at 1.6% in December, marginally above November’s 1.4% print and marking the highest reading since March.