(RTTNews) - The manufacturing sector in Thailand continued to contract in April, and at a faster pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 48.6.
That's down from 49.1 in March, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Weighing on the PMI in April was a further drop in new orders. The current sequence of falling new work now stretches to ten months, the longest in the survey history (although the six-month downturn in February-July 2020 remains the steepest on record).
The rate of decline was slightly faster than in March, but the second slowest in nine months. New export orders fell at the steepest rate in over three years.
