The S&P Global Thailand Manufacturing PMI rose to 54.1 in March 2026 from 53.5 in February, signaling the strongest improvement in operating conditions since December. Growth was driven by a faster expansion in new orders, supported by larger client demand and new business wins, which in turn lifted output at a solid pace. However, demand continued to exceed production capacity, leading to a further buildup in backlogs of work. Firms responded by increasing purchasing activity, while input inventories rose slightly despite longer supplier delivery times, indicating some supply constraints. Employment declined marginally for a second straight month, suggesting cautious hiring. On the price front, input costs were broadly stable, while output prices were reduced slightly for the fourth consecutive month. Looking ahead, business confidence weakened sharply, with future output expectations falling to their lowest level in nearly four-and-a-half years amid concerns over the Middle East war. source: S&P Global

Manufacturing PMI in Thailand increased to 54.10 points in March from 53.50 points in February of 2026. Manufacturing PMI in Thailand averaged 50.39 points from 2016 until 2026, reaching an all time high of 60.40 points in April of 2023 and a record low of 36.80 points in April of 2020. This page provides - Thailand Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Manufacturing PMI in Thailand increased to 54.10 points in March from 53.50 points in February of 2026. Manufacturing PMI in Thailand is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Thailand Manufacturing PMI is projected to trend around 53.00 points in 2027 and 51.00 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 47.70 49.60 points Mar 2026
Capacity Utilization 58.21 60.36 percent Feb 2026
Vehicle Production 117952.00 118386.00 Units Feb 2026
Passenger Car Sales 26363.00 26667.00 Units Jan 2026
Changes in Inventories 180513.00 -117955.00 THB Million Dec 2025
Coincident Index 109.77 109.99 points Feb 2026
Corruption Index 33.00 34.00 Points Dec 2025
Corruption Rank 116.00 107.00 Dec 2025
Industrial Production YoY -0.04 1.64 percent Feb 2026
Industrial Production Mom -2.35 0.10 percent Feb 2026
Leading Economic Index 164.92 167.32 points Feb 2026
Private Investment MoM 1.90 2.70 percent Feb 2026
Domestic Car Sales 48242.00 73936.00 Units Feb 2026


Thailand Manufacturing PMI
The S&P Global Thailand Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 450 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Thailand Manufacturing PMI Hits 3-Month High
The S&P Global Thailand Manufacturing PMI rose to 54.1 in March 2026 from 53.5 in February, signaling the strongest improvement in operating conditions since December. Growth was driven by a faster expansion in new orders, supported by larger client demand and new business wins, which in turn lifted output at a solid pace. However, demand continued to exceed production capacity, leading to a further buildup in backlogs of work. Firms responded by increasing purchasing activity, while input inventories rose slightly despite longer supplier delivery times, indicating some supply constraints. Employment declined marginally for a second straight month, suggesting cautious hiring. On the price front, input costs were broadly stable, while output prices were reduced slightly for the fourth consecutive month. Looking ahead, business confidence weakened sharply, with future output expectations falling to their lowest level in nearly four-and-a-half years amid concerns over the Middle East war.
2026-04-01
Thailand Manufacturing PMI Expands in February
The S&P Global Thailand Manufacturing PMI rose to 53.5 in February 2026, accelerating from a five-month low in the previous month. The growth was primarily driven by a strong increase in new orders, as businesses reported winning new customers and generally stronger demand. This, in turn, supported higher output, which expanded at a solid pace, faster than in the previous month. In addition, Thai manufacturers boosted purchasing for a ninth straight month, driven by higher production needs, stronger demand, and stock replenishment. Meanwhile, employment fell for the second time in three months, even as backlogs of work remained elevated. On the price front, input cost inflation declined for the first time in five months, while output prices rose at the fastest pace in over five-and-a-half years. Looking ahead, manufacturers remained optimistic about the year ahead, though expectations have softened from the highs recorded late last year.
2026-03-02
Thailand Manufacturing PMI Hits 5-Month Low
The S&P Global Thailand Manufacturing PMI fell to 52.7 in January 2026, from a two-and-a-half-year high of 57.4 in December. It marked the lowest reading since August 2025, highlighting a softer pace of expansion in both output and new business, partly due to a further decline in new export orders amid subdued foreign demand. Despite the easing momentum, Thai manufacturers continued to increase staffing levels to cope with rising workloads. On the price front, average input costs rose for a third consecutive month, driven by higher prices for raw materials and semi-finished goods. In contrast, output charges fell again, at the fastest pace in nearly five and a half years, as intense competition and the need to offer discounts weighed on pricing power. Looking ahead, sentiment among Thai manufacturers remained upbeat in January, with firms expressing optimism that business expansion plans and improving economic conditions will help support sales growth over the year ahead.
2026-02-02