Industrial production in Thailand declined by 2.6 percent year-on-year in September 2018, worse than market consensus of a 0.5 percent fall and following an upwardly revised 0.8 percent gain in a month earlier. It was the first decline in industrial output since April 2017, due to lower production of cars and rubbers. Meantime, capacity utilization at factories was at 66.35 percent, edging up from August's revised 66.34 percent. Industrial Production in Thailand averaged 6.90 percent from 1988 until 2018, 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 2.90 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 3.20 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.