Thailand’s PMI August 2024

According to data from S&P Global Market Intelligence, Thailand’s Purchasing Manager’s Index (PMI) reached 52 in August, above the 50-point threshold that separates growth from contraction.

The overall growth in manufacturing was driven by advancements in various areas, including new export orders, output, and new contracts.

Cost pressures remained under control as average input prices fell for the fifth time in six months, while producers moderately raised output prices. Thai manufacturers' output optimism in August was the second highest in 16 months.

In its latest outlook, the International Monetary Fund estimated Thailand GDP growth rate to be 2.7 per cent in 2024 and 2.9 per cent in 2025.

Several key indicators of the Thai economy are still in a phase of recovery and the government has implemented a series of policies and financial measures whose effects will be seen in the coming months.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.