Thailand’s manufacturing sector contracts amid lackluster demand

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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.— Xinhua

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