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.

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Thailand Manufacturing Pmi

Actual Previous Highest Lowest Dates Unit Frequency
50.10 49.30 51.10 48.20 2016 - 2019 points Monthly

News Stream
Thailand Manufacturing Shrinks for First Time in 9 Months
The IHS Markit Thailand Manufacturing PMI was down to 49.3 in November 2019 from 50.0 in the prior month. This was the first contraction in factory activity since February, with both output and new orders falling the most in over a year. Also, overseas sales shrank for the first time in three months on the back of a strong baht, while firms further reduced employment and scale back purchasing activity. In terms of inflation, price pressures remained muted in. Average selling prices rose at the slowest pace for six months, in tandem with another marginal increase in input costs. Looking ahead, confidence reached its lowest since September 2018.

Thailand Factory Activity Stagnates in October
The IHS Markit Thailand Manufacturing PMI was at 50.0 in October 2019, down from the previous month's three-month high of 50.6. Growth in both production and new orders eased, while employment fell further, with backlogs of work were unchanged following a five-month period of accumulation. At the same time, firms cut back on purchasing activity for the first time in eight months and tapped into current inventories to meet demand, as reflected by falls in stocks of both input and finished goods. Meanwhile, inflationary pressures moderated, with input costs and output charges increasing marginally. Lastly, sentiment dropped to the lowest in over a year.

Thailand Manufacturing PMI Highest in 3 Months
The IHS Markit Thailand Manufacturing PMI rose to a three-month high of 50.6 in September, buoyed by expansions in both production and new orders as well as a return to growth in new export orders. However, other survey indicators hinted that the improvement could be short-lived in the coming months as manufacturers continue to face considerable headwinds, with employment continuing to fall and inventory levels were stagnant. On the price front, input cost rose the least in three months with some reports that a stronger baht had helped to contain import price inflation. Consequently, firms raised their selling charges marginally, though at the fastest pace since June. Finally, confidence remained among the lowest seen for the past year.

Thailand Manufacturing Sector Stagnates in August
The IHS Markit Thailand Manufacturing PMI fell to 50.0 in August 2019 from 50.3 in July. This was the lowest PMI reading since a contraction in February, amid a slower rise in new orders as exports declined. Consequently, output increased only slightly, with the rate of growth being the second weakest in the current sequence of expansion that has been running for ten months. Also, employment continued to fall and buying activity rose the least in six months. In terms of prices, the rate of inflation was modest, leading to only a mild increase in output prices. Lastly, confidence remained near July's low and among the lowest in nearly a year, amid concerns over a a slowing economy and declining revenues.

Thai Manufacturing PMI Lowest in 4 Months
The IHS Markit Thailand Manufacturing PMI slipped to a four-month low of 50.3 in July 2019 from 50.6 in the previous month. New order growth weakened, dragged down by a modest rise in export sales. Also, output expanded the least in nine months, while buying level rose at a slower rate. Holdings of input stocks rebounded, with inventories of finished goods falling for a third straight month. Regarding inflation, cost pressures intensified, with reports of greater prices for raw materials, such as fuel, fabricated metal products and auto parts, alongside increased delivery fees. Meantime, factory gate prices rose marginally, despite some firms offering discounts to clear stocks. Lastly, business confidence fell to the lowest since last September.

Thailand Factory Activity Growth Slows to 3-Month Low
The Nikkei Thailand Manufacturing PMI slipped to a three-month low of 50.6 in June 2019 from 50.7 in the previous month. Employment continued to fall, recording the ninth monthly decrease due to voluntary leavers. Also, input holdings dropped for the first time in four months despite greater purchasing activity. Meanwhile, output expanded the most in a year, new orders increased at the steepest pace since series began and overseas sales went up at the second-quickest pace on record. On the price front, input cost inflation ticked higher, boosted by cost of input materials, such as metal and food items, as well as greater fuel prices and delivery fees and output prices increased at the sharpest extent since February 2018. Finally, sentiment improved linked to production growth, higher sales forecasts, planned business expansions, marketing initiatives and a favourable political climate following the elections.

Thailand Manufacturing Pmi
The IHS Markit Thailand Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 450 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Thailand Business Last Previous Highest Lowest Unit
Business Confidence 45.10 47.40 55.70 34.40 points [+]
Industrial Production -8.27 -8.13 59.60 -32.00 percent [+]
Industrial Production Mom -1.60 0.00 21.90 -24.70 percent [+]
Capacity Utilization 63.17 63.88 70.77 42.11 points [+]
Changes in Inventories -13524.00 13628.00 170441.00 -159831.00 THB Million [+]
Car Registrations 19154.00 30839.00 66668.00 1690.00 [+]
Leading Economic Index 152.04 154.13 154.13 82.25 points [+]
Internet Speed 15999.07 13349.19 15999.07 779.57 KBps [+]
IP Addresses 2822892.00 2718483.00 3513472.00 780307.00 IP [+]
Total Vehicle Sales 79299.00 77121.00 157527.00 5338.00 [+]
Manufacturing Pmi 50.10 49.30 51.10 48.20 points [+]
Private Investment -1.60 1.70 20.20 -17.60 percent [+]
Cement Production 3264.16 3346.06 4210.58 522.00 Thousands of Ton [+]
Car Production 169474.00 166361.00 256581.00 23695.00 [+]
Coincident Index 126.87 127.14 129.45 92.66 points [+]
Competitiveness Index 68.11 67.53 68.11 4.51 Points [+]
Competitiveness Rank 40.00 38.00 40.00 28.00 [+]
Ease of Doing Business 21.00 27.00 46.00 12.00 [+]
Corruption Index 36.00 37.00 38.00 27.90 Points [+]
Corruption Rank 99.00 96.00 102.00 34.00 [+]