The manufacturing sector in Thailand fell into contraction in January, the latest survey from Markit Economics revealed on Monday with a seasonally adjusted PMI score of 49.0.
That’s down from 50.8 in December and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, there was a renewed decline in output and new orders, while expectations for production weakened on second wave concerns.
Weak market conditions impacted purchasing operations and contributed to another round of job shedding in the manufacturing sector in January. Purchases of inputs fell for the first time in four months, and employment declined for the twenty-eighth successive month.