(RTTNews) - The manufacturing sector in Thailand continued to contract in November, albeit at a slower pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 47.6.
That's up from 47.5 in October although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Central to the latest manufacturing sector contraction was a fall in new orders. New work intakes at Thai manufacturers continued to decline at a historically marked pace, affected by deteriorating economic conditions and loss of customer bases. Global conditions were likewise subdued, leading to a third monthly reduction in new orders from abroad.
Nonetheless, output continued to expand in November as manufacturers worked through their existing orders to support continued production growth. The rate of expansion was only moderate, however, despite backlogs depleting at an above-average pace.
