FX.co ★ Thailand Manufacturing Growth at 7-Month High

Thailand’s S&P Global Manufacturing PMI rose to 54.2 in July 2026 from 53.6 in June, marking its highest reading since December 2025. Output growth accelerated for a second consecutive month to its fastest pace so far this year, driven by stronger inflows of new orders, which increased at the quickest rate in four months. New export sales rose for a third straight month, though the pace of growth eased slightly.

Purchasing activity remained solid, with buying levels expanding at the fastest rate since March. Average lead times for inputs lengthened again, but only marginally, and at the slowest rate since last December.

Employment was broadly unchanged, as it has been for most of 2026, despite a continued build-up in backlogs of work, indicating mounting pressure on operating capacity.

On the price front, manufacturers raised output charges for the fourth consecutive month, even as input costs remained largely stable. Finally, business confidence improved further, extending the recovery from March’s low.