Thailand Manufacturing PMI2016-2021 Data | 2022-2023 Forecast | Calendar

The IHS Markit Thailand Manufacturing PMI rose to 50.7 in April 2021 from 48.8 in the prior month. This was the first growth in the manufacturing sector since December 2020 and among the best reading during the past two years, boosted by the government's ability to control the recent wave of local COVID-19 infections. Production and new business both increased for the first time this year, spurred by a boost to exports. Also, the volume of inputs ordered rose for the first time in four months. This generated additional pressure on supply chains, and suppliers' delivery times lengthened the most in the survey history. Less positively, employment continued to fall, reflecting ongoing pessimism about the next 12 months. Meantime, inflationary pressures remained subdued despite rising demand for raw materials. Input prices rose for the seventh month running, but only marginally. That said, output prices increased for only the second time in 16 months.

The IHS Markit Thailand Manufacturing PMI went up to 48.8 in March 2021 from a seven-month low of 47.2 in February 2021. Still, this marked the third straight month of contraction in factory activity, with the latest reading remaining below its long-run trend level of 49.4. New export orders rose for the first time since February 2020; while output, new orders, and purchasing and input inventories all declined for the third month running. At the same time, firms cut workforces further, with backlogs of work broadly unchanged following a steep drop in February. As for prices, average input prices continued to increase, amid global supply shortages. In contrast, manufacturers left their own output prices unchanged since February, reflecting the weak demand environment. Lastly, confidence remained pessimistic, albeit less so than in January and February.

The IHS Markit Thailand Manufacturing PMI was down to a seven-month low of 47.2 in February 2021 from 49.0 a month earlier. The headline PMI now has fallen three times in the past four months as output and new orders fell further, and at faster rates. Also, weak export demand continued to weigh heavily on overall orders. Firms reduced employment again, while the level of outstanding work dropped noticeably for the first time in six months. The respective index was amongst the lowest since the series began in December 2015. Purchases of inputs fell the most since July 2020, contributing to a faster decline in stocks of production materials. Inventories of finished goods similarly fell at the strongest rate since July 2020. As for prices, input prices rose fractionally, while output prices dropped for the second month running in an effort to boost sales. Finally, sentiment weakened, reflecting falling customer numbers and the slow pace of economic recovery from COVID19.

The IHS Markit Thailand Manufacturing PMI was down to 49.0 in January 2021 from 50.8 a month earlier. The downturn was the worst since last July, and the fall in the headline figure was among the sharpest in the five-year survey history. Both new orders and output both declined for the first time in six months and job shedding continued. Meanwhile, export demand remained weak, reflecting the impact of the COVID-19 pandemic on international trade. At the same time, buying activity fell fior the first time in four months, and employment declined for the twenty-eighth straight month. There was a general lack of pressure on business capacity as backlogs of work remained unchanged. On the price front, input prices rose for the fourth month running, but at a marginal pace. Meanwhile, output prices fell for the first time in three months, linked by firms to lower new orders. Lastly, sentiment turned negative, amid a second wave of local coronavirus outbreak.