S&P Global: Thailand’s manufacturing growth continues at slower pace

Thailand’s manufacturing sector saw a continued upturn in business conditions in September, although the pace of growth slowed, according to the latest Manufacturing Purchasing Managers’ Index PMI data from S&P Global on Tuesday.

New orders increased for the third consecutive month, and output continued to grow for the fifth survey in a row, albeit at a weaker rate. Manufacturers showed caution in purchasing volumes, but maintained a strong pace in expanding their workforces.

Backlogs increased for the fifth month, and manufacturers remained optimistic about future output growth. Price pressures eased as input prices fell sharply, and charges remained stable, ending a 41-month period of inflation.

The S&P Global Thailand Manufacturing Purchasing Managers’ Index (PMI) remained above 50.0 in September, indicating an overall improvement in the sector for the fifth month.

The headline figure fell slightly to 50.4 from August’s 52.0, reflecting slower growth but still above the long-term trend. New orders, output, and employment contributed positively to the PMI, while suppliers’ delivery times and stocks of purchases had minor negative impacts.

Attribution: S&P Global report

Subediting: M. S. Salama