The manufacturing sector in Thailand continued to contract in October, and at a faster pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 47.5.
That’s down from 47.8, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Incoming new orders slipped for a fourth straight month and at a marked pace in October. Likewise for new export orders, a second month of reduction was recorded. This was attributed to worsening domestic and external economic environments, while firms also saw shrinking customer base contributing to lower new work.
Manufacturing output nevertheless continued to grow at the start of the fourth quarter, albeit at the slowest pace in over two years.