Industrial production in Thailand declined by 1.6 percent year-on-year in February 2019, following a 1.18 percent rise in the previous month, and missing market expectations of a 0.52 percent gain. It was the first fall in industrial output since September last year, amid lower production of steel, computers and rubber products. For 2019, the government expects manufacturing production to increase between 2 to 3 percent, after growing 2.8 percent in 2018. Meantime, capacity utilization was at 69 percent in February, down from 70.49 percent in January. Industrial Production in Thailand averaged 6.83 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 3.10 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 3.40 in 12 months time. In the long-term, the Thailand Industrial Production is projected to trend around 3.10 percent in 2020, according to our econometric models.