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Financial News: Thailand Manufacturing Expands For Fourth Month

Thailand Manufacturing Expands For Fourth Month

05/03/2022 - 06:46:00 (RTTNews)

(RTTNews) - Thailand's manufacturing sector expanded for the fourth straight month in April as output increased due to higher demand, survey results from S&P Global showed Tuesday.

The manufacturing Purchasing Managers' Index rose to 51.9 in April from 51.8 in March. A score above 50 indicates expansion.

Manufacturing production increased at the fastest rate in two months in April and foreign demand remained unchanged.

The number of workforce expanded in April led by growth in demand and output.

Backlogs of work decreased in April and suppliers' delivery time grew for the first time since December last year.

Input cost and output prices rose at the fastest rates in the series history.

The overall sentiment remained positive in April, but the level of business confidence declined.

"Growth in hiring activities was a welcome sign," S&P Global Economics Associate Director Jingyi Pan said.

"That said, the fall in business confidence despite the improvement in manufacturing sector conditions reflected continued concerns over future output on the back of inflationary pressures."

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