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Financial News: Thai Manufacturing Sector Continues To Contract In July

Thai Manufacturing Sector Continues To Contract In July - Markit Economics

08/02/2020 - 21:05:00 (RTTNews)

(RTTNews) - The manufacturing sector in Thailand continued to contract in July, albeit at a slower rate, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 45.9.

That's up from 43.5 in June, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output and new orders both fell at slower but still sharp rates. Export sales fell severely and business expectations remained deeply pessimistic.

With the downturn extending into the third quarter, manufacturing employment continued to fall during July amid an ongoing rise in spare capacity.

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