Thailand’s PMI December 2024

According to data from S&P Global Market Intelligence, Thailand’s Purchasing Manager’s Index (PMI) reached 51.4 in December, above the 50-point threshold that separates growth from contraction.

New orders grew solidly, marking a notable expansion supported by new customers and successful products. Output increased for the eighth consecutive month, though employment growth stalled, halting a sustained period of job creation. Backlogs rose at a rapid pace as output failed to keep up with demand. Meanwhile, manufacturers reduced purchasing activity, and stocks of inputs and finished goods continued to decline, with delivery times lengthening due to transportation delays. On prices, input costs rose slightly but remained weak, while output prices fell to their lowest level in nearly four years.

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.

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.