Thailand: Manufacturing PMI rises in June
The S&P Global Thailand Manufacturing Purchasing Managers’ Index (PMI) rose to 51.7 in June from May’s 50.3. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in manufacturing-sector operating conditions compared to the previous month.
June’s increase was primarily driven by the fastest rise in output since May of the previous year, and a near-stabilization in new order volumes after a prolonged downturn. In addition, employment growth reached a record high and purchasing activity accelerated as companies tried to address a sustained rise in backlogs.
Regarding prices, cost pressures in June remained broadly stable, with a slight increase in manufacturers’ pricing power seen as output prices rose at the quickest rate in four months. Lastly, business confidence surged to its highest since April 2023, driven by stabilizing new orders and the anticipation of new customers.