Thailand's PMI falls to 49.8 in April
TOKYO -- The Nikkei Thailand Manufacturing Purchasing Managers' Index, or PMI, dropped to 49.8 in April from 50.2 in March.
A reading above 50 indicates economic expansion, while one below 50 points toward contraction.
"There was a dip in manufacturing conditions in Thailand at the start of the second quarter, following a broadly stagnant first quarter this year," said Bernard Aw, economist at IHS Markit, which compiles the survey.
"Subdued client demand placed less pressure on operating capacity. In fact, Thai manufacturers indicated a decline in backlogs despite lower staff numbers, pointing towards the presence of excess capacity in the sector," he added.
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