BANGKOK, Sept. 2 (Xinhua) -- Thailand's manufacturing sector maintained its expansion for the fourth successive month in August as new orders rose amid further strong increases in output and purchasing, a survey showed on Monday.
The Southeast Asian country's manufacturing purchasing managers' index (PMI) was recorded at 52.0 last month, easing from the 13-month high of 52.8 in July, signaling an overall improvement in manufacturing sector performance, according to S&P Global.
A PMI reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 reflects contraction.
The volume of new orders increased for the second straight month, driven by both new customers and larger contracts with existing clients. As a result, output grew significantly, despite at a slightly slower pace compared to June and July, S&P Global said in a statement.
Employment growth remained robust, nearly matching the survey record high posted two months earlier, while the goods-producing sector was on track for its strongest quarter since the second quarter of 2023, said Trevor Balchin, economics director at S&P Global Market Intelligence.
Balchin said the survey also indicated improving profitability as average input prices fell further, helped by bulk buying, while output prices were raised.
Looking ahead, output expectations among Thai manufacturers remained strongly optimistic in August, as sentiment was the second highest in 16 months and sustained above the pre-pandemic trend, the survey showed. ■