The IHS Markit Thailand Manufacturing PMI increased to 50.1 in December 2019 from 49.3 in the prior month, indicating a broadly stagnant manufacturing sector performance on the month. New order inflows returned to growth, but the rate of expansion was insufficient to lift the level of backlogs while evidence of spare capacity dampened hiring. Firms not only reduced employment but also cut back further on purchasing activity, Meantime, output volumes were virtually unchanged. On the price front, the survey data brought signs of falling price pressures. Average selling prices rose at the slowest pace for nearly a year while input costs fell for the first time since February. Lastly, sentiment fell to its lowest since September 2018, though mildly positive. Manufacturing Pmi in Thailand averaged 50 points from 2016 until 2019, reaching an all time high of 51.10 points in May of 2018 and a record low of 48.20 points in November of 2016. source: Markit Economics
Manufacturing Pmi in Thailand is expected to be 49.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Thailand to stand at 50.10 in 12 months time. In the long-term, the Thailand Manufacturing Pmi is projected to trend around 51.10 points in 2020, according to our econometric models.