TOKYO -- Thailand’s manufacturing sector continued to contract in November amid signs of weak demand, but the rate of decline was slower than the previous month, according to a survey.
The Nikkei Thailand Manufacturing Purchasing Managers’ Index, or PMI, rose from 48.9 in October to 49.8 in November, remaining below the 50-point line separating expansion from contraction.
The survey continued to signal weak demand conditions, particularly in the domestic market. New orders fell for a second straight month in November, although foreign orders rose slightly.
The figures “set the scene for the weakest quarterly performance in Thailand’s manufacturing sector in two years,” said Bernard Aw, Principal Economist at IHS Markit, which compiled the survey.
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