Thai Manufacturing Sector Accelerates In August - S&P Global

(RTTNews) - The manufacturing sector in Thailand continued to expand in August, and at a faster rate, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 52.7.

That's up from 51.9 in July and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Manufacturing production rose at a rate that was sharp and the quickest in 13 months. This was driven by a solid rise in new orders, the quickest in the year-to-date. According to panelists, successful business development efforts and better underlying demand conditions spurred the growth in new sales.

This was limited to the domestic market, however, as new export orders fell for the first time since April. Despite rising new work inflows, headcounts were unchanged in the Thai manufacturing sector in August. Anecdotal evidence suggested that resignations countered efforts to raise staffing levels among goods producers.