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Thailand: Manufacturing activity growth stable in May
Latest reading: Manufacturing output grew 1.9% compared to the same month a year earlier in May, matching April’s increase. Looking at the details of the release, food products output grew at a softer pace. In contrast, automotive vehicles output picked up steam, and refined petroleum products accelerated.
Meanwhile, the trend improved, with the annual average variation of manufacturing production coming in at minus 0.8% in May, up from April’s minus 1.1% reading. On a seasonally adjusted monthly basis, manufacturing production fell 0.6% in May (April: +2.9% mom).
