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Thailand PMI November 2023

Thailand: Manufacturing PMI virtually unchanged in November

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 47.6 in November from 47.5 in the prior month, marking the third consecutive contraction. Consequently, the PMI remained entrenched below the 50-threshold that separates improving from deteriorating conditions in the manufacturing sector compared to the previous month.

Another decline in new orders and subdued production growth were behind November’s negative reading. Moreover, employment fell for the fifth consecutive month. On the flipside, optimism for the coming 12 months rose amid hopes of improving economic conditions ahead. On the price front, input costs rose for the first time since June, while output prices continued to increase.

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