Thailand: Manufacturing production decreases at stronger a pace in May
On an annual basis, manufacturing output fell at a more pronounced rate of 23.2% in May (April: -18.2% yoy). The print marked the worst result since November 2011. Moreover, the trend pointed down, with the annual average variation of manufacturing production coming in at minus 8.2% in May, down from April’s minus 6.5%.
Manufacturing production fell 6.0% month-on-month in seasonally-adjusted terms in May (April: -10.6% mom).