FX.co ★ Thailand Manufacturing Growth Hits 10-Month High

The S&P Global Thailand Manufacturing PMI increased to 51.7 in June 2025, up from 51.2 in May, indicating two consecutive months of growth and the most robust expansion since August 2024. Output growth reached a near one-year high, driven by an increase in new work inflows, including international orders. This prompted manufacturers to enhance their purchasing activity for the first time in four months, resulting in a second consecutive increase in input inventories. Conversely, stocks of finished goods saw a slight decline after two months of growth, as companies hesitated to hold additional inventory for sales. Employment levels plateaued following two months of job gains, reflecting softening business confidence. Although manufacturers maintained an above-average level of optimism in June, it was at its lowest point in over a year as some firms expressed concerns about the growth outlook. On the pricing front, input costs rose for the first time since January, leading to an uptick in selling price inflation.