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Financial News: Thai Manufacturing Sector Picks Up Steam In June

Thai Manufacturing Sector Picks Up Steam In June - S&P Global

06/30/2024 - 21:08:00 (RTTNews)

(RTTNews) - The manufacturing sector in Thailand continued to expand in June, and at a faster pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.7.

That's up from 50.3 in May, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The upward movement in the PMI was reflected in four of the five sub-indices, the exception being suppliers' delivery times, which was broadly neutral. Output and employment both rose more strongly while slower falls were registered for new orders and stocks of purchases, all of which lifted the headline figure since May.

Output rose at the fastest rate since May 2023, and one that was well above the long-run survey average. The level of incoming new orders continued to fall in June, but the rate of decline was the slowest in the current 12-month downturn, suggesting a near-stabilization in demand.

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