The manufacturing sector in Thailand continued to contract in July, albeit at a slower rate, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 45.9.
That’s up from 43.5 in June, although it remains beneath the boom-or- bust line of 50 that separates expansion from contraction.
Individually, output and new orders both fell at slower but still sharp rates. Export sales fell severely and [business][1] expectations remained deeply pessimistic.
With the downturn extending into the third quarter, manufacturing employment continued to fall during July amid an ongoing rise in spare capacity.
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