Thailand's Manufacturing Sector Contracts Amid Lackluster Demand

Thailand's manufacturing sector contracted in December 2021 due to lackluster demand amid a slow economic recovery, a survey showed Tuesday

BANGKOK, Jan. 4 (UrduPoint / Pakistan Point News - 4th Jan, 2022 ) --:Thailand's manufacturing sector contracted in December 2021 due to lackluster demand amid a slow economic recovery, a survey showed Tuesday.

The country's manufacturing Purchasing Managers' Index (PMI) fell to 49.5 in December from 50.

6 in November, a signal of a deterioration in the health of the country's manufacturing sector, according to the IHS Markit, a London-based global information provider that compiles the index.

A PMI reading above 50 indicates an expansion of the manufacturing sector compared to the previous month, while that below 50 represents a contraction.

The PMI in December, after a two-month expansion as Thailand's manufacturing sector improved following the easing of COVID-19 restrictions, was weighed by weak demand and employment conditions, said Pan Jingyi, economics associate director at IHS Markit.