Thailand's manufacturing sector contracts slightly in March
Bangkok, April 1 -- Thailand's manufacturing sector contracted slightly in March due to a slowdown in output growth as incoming new orders dropped amid declining export demand, a survey showed on Tuesday.
The Southeast Asian country's manufacturing purchasing managers' index (PMI) came in at 49.9 in March, down from 50.6 in February, signaling a marginal deterioration in manufacturing sector conditions, according to S&P Global.
A PMI reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 reflects contraction.
Manufacturing production growth slowed to a near-neutral level in March as some manufacturers increased output to fulfill existing orders, while others decreased production owing to reduced new order...
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