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Financial News: Thailand Manufacturing PMI Slows In October - S&P

Thailand Manufacturing PMI Slows In October - S&P Global

10/31/2022 - 20:46:00 (RTTNews)

(RTTNews) - The manufacturing sector in Thailand continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 51.6.

That's down from 55.7 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Manufacturing production in Thailand continued to expand in October and at the second-fastest rate on record as firms worked on existing orders. The broad current demand picture deteriorated, however, with new orders falling at the fastest rate since mid-2020 (around the height of the COVID-19 pandemic).

Thai manufacturers reported weaker economic conditions and increased competition having led to the fall in incoming new business. Foreign demand for Thai manufactured goods similarly eased in October, affected by higher inflation.

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