Thai Manufacturing Sector Slips Into Contraction - S&P Global

(RTTNews) - The manufacturing sector in Thailand fell into contraction territory in August, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 48.9.

That's down from 50.7 in July and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

New work placed at Thai manufacturers declined for a second consecutive month in August on the back of deteriorating economic conditions. The pace of reduction was solid and the fastest in nine months.

That was despite new export orders remaining in growth territory. Foreign sales were supported by improvements in demand at key export destinations according to panelists. Manufacturing production expanded at the slowest pace in nearly two years.