Thai Factories See Growth for the First Time in 2020, but Confidence Continues Negative

Thailand’s October factory activity expanded for the first time in 2020 as a result of rising production and new orders at faster rates, IHS Markit’s survey data showed.

 

The Purchasing Managers’ Index (PMI) for Thailand’s manufacturing improved to 50.8 mark in October, up from 49.9 mark in September, the highest reading for 18 months, driven by  faster increases in output and sales. Thai good producers raised production volumes for a third straight month in October, and at the fastest pace since June 2019, said the survey.

 

Despite a steady rising in new order, backlogs of work were unchanged from September and the lack of capacity pressure coincided with a further decline in employment. Overall, business sentiment is still negative.