Thai Manufacturing PMI Weakens Further In February - S&P Global

(RTTNews) - The manufacturing sector in Thailand continued to contract in February, and at a faster pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 45.3.

That's down from 46.7 in January and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Central to the latest manufacturing sector downturn was a reduction in new work. Incoming new orders declined at the sharpest pace outside of the pandemic period with around 46% of survey respondents indicating lower new work intakes.

Likewise for foreign demand, new orders from abroad fell at a more pronounced pace in February. Thai manufacturers pinned the latest decline in new orders on softening domestic and external conditions, while shrinking customer bases also affecting sales.