The manufacturing sector in Thailand continued to expand in February, and at a faster pace, the latest survey from S&P Global revealed on Monday with a Purchasing Manager Index score of 53.5.
That’s up from 52.7 in January and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The uptick in the headline index was driven by its two weightiest components: new orders and output. New orders rose at a robust and accelerated rate, amid reports from surveyed businesses of new customers being won and generally stronger demand. This fed through to output, which likewise increased at a solid rate that was quicker than that seen the month before.
A combination of increased production requirements, stronger customer demand and efforts to replenish stocks saw Thai manufacturers increase their purchasing activity for a ninth straight month, and to a slightly greater extent than in January.
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