TOKYO -- Growth in Thailand's manufacturing sector slowed slightly in January as stagnating demand weighed on the industry, according to a survey.
The Nikkei Thailand Manufacturing Purchasing Managers' Index, or PMI, fell from 50.3 in December to 50.2 in January, remaining above the 50-point line separating expansion from contraction.
New order intakes were largely unchanged, although export sales rose marginally for a third straight month.
"The improvement in business conditions in the sector remained marginal," said Bernard Aw, Principal Economist at IHS Markit, which compiles the survey.
"Subdued PMI performance in recent surveys may not support further rate hikes after the Bank of Thailand delivered the first rate increase since 2011 at the policy meeting last December, as part of efforts to create more policy space."
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