S&P Global: Thailand’s manufacturing growth slows in Nov. ’24

The S&P Global Thailand Manufacturing Purchasing Managers’ Index (PMI) edged up from 50.0 in October to 50.2 in November 2024, signalling a marginal overall improvement in manufacturing performance.

Purchasing activity decreased, and supplier delivery times lengthened due to reported shipping delays. Inflationary pressures remained subdued, with average input prices rising marginally and output prices staying unchanged.

The volume of new orders remained relatively stable in November, following a slight decline in October. This limited output growth, which, although positive for the seventh consecutive month, was marginal and the weakest during this period.

The backlog of work at Thai manufacturers decreased for the first time in seven months in November, after a prolonged period of growth. However, the rate of decline was less pronounced compared to previous periods of backlog reduction.

Attribution: S&P Global report

Subediting: M. S. Salama