The ASEAN manufacturing sector showed a clear recovery in July, with the PMI index rising to 52.8. Thailand led the region with 54.2, driven by increased orders and production.
On August 3, 2569, at 08.59:XNUMX a.m., Bloomberg News reported that Southeast Asia's manufacturing sector rebounded in July, following a surge in new orders and production to its highest level since the conflict in the Middle East. This reflects a easing of pressure from energy costs and geopolitical uncertainty.
Data from S&P Global. specify that The ASEAN manufacturing Purchasing Managers' Index (PMI) rose to 52.8 in July from 50.5 in June, its lowest level in 11 months. However, it remains above the 50-point threshold, which marks the boundary between expansion and contraction in the manufacturing sector.
The report states that Businesses in the region increased their raw material procurement and employment as business confidence improved, with manufacturers having the most positive outlook on production growth in over three years.
Thailand outperformed the others in the region, with a PMI index of 54.2, followed by Vietnam at 52.9. Almost all ASEAN member countries had PMI readings above 50, reflecting expansion in the manufacturing sector, with the exception of Myanmar, which stood at 49.3 and remained in contraction.
AMarière Balouch, an economist from S&P Global Market Intelligence. said ASEAN's manufacturing sector appears to have passed the slowdown between March and June, which was impacted by the conflict in the Middle East.
She stated that while current performance is close to that of the beginning of the year, it is still below the all-time high achieved in February.
Meanwhile, key manufacturing hubs in North Asia continued to maintain their PMI readings above 50 in July, with manufacturers citing easing tensions in the Middle East and strong demand for AI-related electronics as key factors supporting new orders.
However, this overall picture contrasts with China, where the manufacturing sector unexpectedly contracted in July. The official manufacturing PMI stood at 49.2, below 50 and lower than the 50.1 forecast by Bloomberg analysts, reflecting continued pressure on the Chinese economy, even as many countries in the region begin to see signs of industrial recovery.
refer : www.bloomberg.com
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