-- Thailand's manufacturing sector continued to expand in April, although at a slower rate, as rising costs and weakened momentum on demand weighed on activity, according to data released Tuesday by S&P Global.
The S&P Global Thailand Manufacturing Purchasing Managers' Index fell to 52.7 in April from 54.1 in March, marking its joint-lowest level since July last year, but remaining above the 50 threshold for a twelfth straight month.
New orders and output both increased, though growth softened, with firms citing a squeeze on purchasing power that dampened demand and led to the slowest expansion in sales in eight months.
Backlogs of work rose at a faster pace, while employment was broadly unchanged following slight declines in the previous two months.
Purchasing activity continued to increase, but supplier delivery times lengthened to the greatest extent in over three years, reflecting supply chain disruptions linked to the Middle East conflict.
Cost pressures intensified, with input prices rising at the fastest rate in more than three-and-a-half years, driven by higher oil, fuel and raw material costs.
Business confidence picked up in April after falling to a more than four-and-a-half-year low in March, but remained weak due to concerns over rising prices and demand risks, S&P said.