FX.co ★ Thailand Manufacturing Sees Fastest Growth in 11 Months

The S&P Global Thailand Manufacturing PMI edged up to 51.9 in July 2025, a slight increase from 51.7 in June. This indicates the third straight month of growth and represents the most significant enhancement in operating conditions in nearly a year, highlighting a strengthening trend in production activities and overall business environment. New order volumes accelerated at the quickest rate seen this year, fueled by heightened client interest and increased demand from exports. Consequently, manufacturers boosted both production and purchasing activities, resulting in a rise in input inventories. Employment levels also saw an upturn after a plateau in June, contributing to a decrease in backlog levels. Meanwhile, output price inflation softened to a nearly neutral level as input costs marginally declined, aided by supplier discounts and bulk purchasing strategies. Despite this positive momentum, inventories of finished goods declined again due to outbound shipments. Business confidence surged to an 11-month peak, with firms displaying optimism regarding future output, driven by strategic marketing initiatives and expansion plans.