Thailand’s manufacturing sector faced a notable setback in November as factory output dropped by 3.58% compared to the previous year, as reported by the industry ministry on Friday. This decline significantly surpassed analysts’ predictions.
The manufacturing production index slumped more than anticipated, falling short of the 0.50% decrease forecasted in a Reuters poll. This downturn follows a less severe annual drop of 0.91% in October, indicating mounting challenges for the sector.
The deeper-than-expected contraction in Thailand’s manufacturing output underscores growing pressures on the economy, with the latest figures marking a sharper decline than analysts had projected. The industry now faces heightened scrutiny as it navigates these economic headwinds.
