FX.co ★ Thailand Manufacturing PMI Highest Since 2023

The S&P Global Thailand Manufacturing PMI increased to 56.6 in October 2025, up from 54.6 in September. This rise marks the sixth consecutive month of expansion and represents the highest level since May 2023. The acceleration was attributed to the most rapid surge in new orders in two and a half years, buoyed by effective business development initiatives and heightened client demand. In response, production growth accelerated for the seventh consecutive month, with manufacturers bolstering their workforce for the second month in a row to handle increased workloads. In terms of costs, input prices stabilized after a three-month decline. As a result, selling prices largely remained steady at the start of the final quarter. Furthermore, business sentiment significantly strengthened to its most optimistic level in two and a half years, as Thai manufacturers became more confident about their expansion plans and favorable economic conditions that are anticipated to bolster sales growth in the coming year.