The manufacturing sector in Thailand continued to contract in July, albeit at a slower pace, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 48.7.
That’s down from 49.5 in June, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Demand and output both shrank for a third consecutive month in line with the headline PMI reading. The pace at which new orders and output declined were noticeably shaper compared to June and were faster than the survey’s averages to signal deterioration in economic conditions.
Panelists broadly noted the aggravation of COVID-19 conditions contributed to the worsening of the manufacturing sector contraction.