TOKYO -- Thai manufacturing sector in May showed growth, helped by the strongest export order growth since early 2018, albeit at a slower pace than April.
The Nikkei Thailand Manufacturing Purchasing Managers' Index, or PMI, dipped from 51.0 in April to 50.7 in May. A reading above 50 indicates an expansion while a reading below 50 points to a contraction.
Thai manufacturers faced robust demand conditions outside the country, as sales to overseas markets rose further in May, with growth seen at the strongest since February 2018. Firms stepped up production, and raised purchasing activity and build-up input stocks.
"Growth in the Thai manufacturing sector extended into the middle of the second quarter, supported by a further strengthening of demand conditions," said Bernard Aw, Principal Economist at IHS Markit, which compiles the survey. "The latest survey data are broadly consistent with annual GDP growth rates of around 4%," he added.
For more information,visit IHS Markit website.