FX.co ★ Thailand Manufacturing Sector at 10-Month Low

Thailand’s S&P Global Manufacturing PMI slipped slightly to 52.6 in May 2026 from 52.7 in April, its lowest level since July 2025, though it remained comfortably in expansionary territory. Output continued to rise but at the slowest rate in a year, as firms reported increased caution among clients. Supply chain strains persisted, with transportation disruptions identified as the main driver of longer delivery times for raw materials. By contrast, new orders expanded at a quicker pace, underpinned by solid sales pipelines, resilient underlying demand, and the positive impact of recent business development efforts. On the price front, input cost inflation stabilized after April’s sharp acceleration, while output prices rose only modestly as manufacturers continued to pass on higher raw material and freight costs. Finally, business confidence improved further, extending its recovery from the 55‑month low registered in March.