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Financial News: Thailand Manufacturing Sector Contracts In December

Thailand Manufacturing Sector Contracts In December

01/04/2022 - 06:46:00 (RTTNews)

(RTTNews) - Thailand's manufacturing sector deteriorated in December, survey results from IHS Markit showed Tuesday.

The manufacturing Purchasing Managers' Index fell to 49.5 in December from 50.6 in November. A score below 50 indicates contraction.

Output increased at a strong pace in December, while foreign demand was affected by the slow recovery in economic conditions.

Input cost increased in December and output price inflation rose at a record rate.

Employment declined at the fastest rate since October and backlogs of work rose for the first time since September 2020.

Suppliers' delivery time improved at a record rate in December and purchasing activity increased.

The overall sentiment remained positive in December, with the level of business confidence rising to the third highest on record.

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