Thai Manufacturing PMI Steady In May - S&P Global

(RTTNews) - The manufacturing sector in Thailand continued to expand in May, and at a steady pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 51.9.

That's unchanged from the April, and it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Manufacturing production growth accelerated in May to the fastest rate on record. The increase did not reflect an improvement in demand, however, as overall new orders, including new business from abroad, contracted in May.

Higher product costs and competition from foreign manufacturers led to the decline in domestic sales, while the Ukraine war was noted as a factor behind depressed international demand.