Industrial production in Thailand declined by 3.99 percent year-on-year in May 2019, worse than market expectations of a 0.1 percent drop and and reversing from a 2.03 percent advance in a month earlier. This was the biggest yearly fall in industrial output since August 2014, dragged down by lower production of cars and rubber products. For 2019, the government expects manufacturing output to increase between 2 to 3 percent, after growing 2.8 percent in 2018. Meantime, capacity utilization was at 67.72 percent in May, up noticeably from 63.89 percent in April. Industrial Production in Thailand averaged 6.76 percent from 1988 until 2019, reaching an all time high of 59.60 percent in November of 2012 and a record low of -32.50 percent in November of 2011.
Industrial Production in Thailand is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Thailand to stand at 2.80 in 12 months time. In the long-term, the Thailand Industrial Production is projected to trend around 3.20 percent in 2020, according to our econometric models.