The manufacturing sector in Thailand continued to expand in January, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 54.5.
That's up from 52.5 in December and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The latest figure signaled the second-strongest overall expansion in the sector in the seven-year survey history, behind September 2022 (55.7). Since the first survey in December 2015 the PMI has trended at 49.9.
The PMI was positively influenced by all five components in January with expansions registered for output, new orders, employment and stocks of purchases, and longer suppliers' delivery times. This was the first broad-based improvement since January 2017 and only the third in the survey history (the other being December 2016). The 2.0-point increase in the PMI since December was driven by the new orders, employment and stocks of purchases indices.