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Financial News: Thai Manufacturing PMI Improves To 46.7 In January

Thai Manufacturing PMI Improves To 46.7 In January - S&P

01/31/2024 - 19:50:00 (RTTNews)

(RTTNews) - The manufacturing sector in Thailand continued to contract in January, albeit at a slower rate, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 46.7.

That's up from 45.1 in December, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The volume of incoming new orders for Thai manufactured goods fell for a seventh consecutive month at the start of 2024. This was reflective of softer economic conditions and reduced demand from clients according to survey respondents. Foreign demand was likewise subdued, though the pace of export order contraction was shallower compared to the marked pace of decline for overall new orders.

Despite the reduction in new work, manufacturing production returned to growth at the start of 2024 with Thai manufacturers working through their existing orders.

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