The S&P Global Thailand Manufacturing PMI climbed to 53.5 in February 2026, rebounding from a five-month low in January. Growth was largely fueled by a robust rise in new orders, as firms reported winning new clients and experiencing generally stronger demand. This supported a solid expansion in output, which grew at a faster pace than in the previous month.
Thai manufacturers also increased their purchasing activity for the ninth consecutive month, driven by higher production requirements, firmer demand, and efforts to rebuild inventories. However, employment declined for the second time in three months, even as backlogs of work remained elevated.
On the price front, input cost inflation eased for the first time in five months, while output charges rose at the quickest rate in more than five-and-a-half years. Looking ahead, manufacturers maintained a positive outlook for the coming year, although sentiment has moderated from the highs seen late last year.
