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Thailand PMI December 2023

Thailand: Manufacturing PMI records worst reading since June 2020 in December

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell to 45.1 in December from November’s 47.6. December’s result marked the weakest reading since June 2020. As such, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in manufacturing sector operating conditions compared to the previous month.

A sharper decline in new orders and the first contraction in output since August 2021 were behind December’s negative reading. Moreover, employment fell for the sixth consecutive month. On the flipside, optimism for the coming 12 months fell to the lowest since August 2023 but remained above the 50.0 print, signaling still-positive expectations. On the price front, input costs rose at an accelerating pace, as did output prices.

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