FX.co ★ Thailand Manufacturing Growth Hits Over 1-Year High

The S&P Global Thailand Manufacturing PMI increased to 52.7 in August 2025, up from 51.9 in July, signifying four consecutive months of growth and the fastest expansion pace since July 2024. The production output grew at its most rapid rate in over a year, bolstered by a substantial rise in new orders—the strongest recorded this year. This surge in new orders was entirely supported by domestic demand, as new export orders declined for the first time since April. Consequently, manufacturers increased their purchasing activity and utilized inventory reserves to meet these orders. Despite this, employment levels remained static, which led to a renewed accumulation of backlogs. On the pricing front, average selling prices saw a slight uptick in August, even amid a continued reduction in input costs. Additionally, business confidence reached its highest point in nearly two and a half years, fueled by the anticipation of business expansion initiatives and new product rollouts aimed at driving growth in the coming year.