The manufacturing sector in Thailand continued to expand in March, albeit at a slower pace, the latest survey from S&P Global showed on Friday with a manufacturing PMI score of 51.8.
That’s down from 52.5 in February although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Output growth likewise slowed but persisted at a rate well above the series average. Overall sales fell, however, affected by the deterioration in COVID-19 conditions in Thailand. Meanwhile higher costs, aggravated by the Ukraine war, also led to a fall in foreign demand to lower March.
As a result, employment levels dropped in March with the renewed fall in new orders leading to lower staffing levels. The level of work outstanding also eased on the back of shrinking new business.