Thailand's S&P Global Manufacturing PMI rose to 54.3 in September 2026, up from 53.8 in August, marking its highest level since December 2025. The improvement was driven by the fastest increase in output in nine months, underpinned by solid demand conditions. New orders expanded at their strongest pace in six months, supported by successful promotional campaigns and the acquisition of new customers.
Employment levels edged down, with firms largely attributing the decline to natural attrition rather than active job cuts. On the pricing front, both input cost inflation and output price growth remained subdued. Higher raw material costs, particularly for metals, contributed to the modest rise in input prices.
Business confidence was broadly unchanged from August’s seven-month high. Manufacturers remained generally optimistic that ongoing marketing efforts and resilient demand would continue to underpin production growth over the coming year.
