Industrial production in Thailand declined by 5.54 percent year-on-year in June 2019, worse than market expectations of a 3.15 percent drop and after a 3.99 percent drop a month earlier. This was the biggest yearly fall in industrial output since March 2014, dragged down by lower production of cars, rubber products and petroleum. For 2019, the government expects manufacturing output to increase by 2 percent, after growing 2.8 percent in 2018. Meantime, capacity utilization was at 65.28 percent in June, down from an upwardly revised 67.83 percent in May. Industrial Production in Thailand averaged 6.73 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 3.20 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 2.50 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.