FX.co ★ Thailand Industrial Output Unexpectedly Rises

In September 2025, Thailand witnessed an unexpected increase in industrial production, growing by 1.02% year-on-year. This performance surpassed market expectations, which had anticipated a 2.0% decline, and marked a recovery from a 4.19% decrease in the previous month. Earlier in the year, in April, Thailand’s Industry Ministry revised its industrial growth forecast for 2025, adjusting it to a range of 0%–1% from a previous estimate of 1.5%–2.5%. This revision was attributed to uncertainties surrounding US trade policies and the impact of high household debt, which were identified as significant challenges.