Thailand’s industrial production unexpectedly grew by 1.02% year-on-year in September 2025, beating market forecasts of a 2.0% decline and rebounding from a 4.19% drop in the previous month. In April, the Industry Ministry lowered its 2025 industrial growth forecast to a range of 0%–1%, down from an earlier projection of 1.5%–2.5%, citing uncertainty surrounding US trade policy and elevated household debt as key headwinds.
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