Thailand: Manufacturing PMI falls in October
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) dropped to 47.5 in October from 47.8 in the prior month, marking the third consecutive contraction. Consequently, the PMI moved further below the 50-threshold that separates improving from deteriorating conditions in the manufacturing sector compared to the previous month.
A sharper decline in new orders and slower production growth were behind October’s negative reading. Moreover, employment fell again. On the flipside, optimism for the coming 12 months rose amid hopes of improving economic conditions ahead. On the price front, input costs fell for the fourth consecutive month, while output prices rose albeit at a modest overall pace.