Thailand’s PMI May 2024

According to the latest data by S&P Global Market Intelligence, Thailand’s Purchasing Manager’s Index (PMI) reached 50.3 in May, above the 50-point threshold that separates growth from contraction.

The overall expansion in manufacturing was boosted by improvements in several segments, such as new export orders, output, and new contracts. Meanwhile, the growth rates of finished goods inventories and employment slowed.

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.