Bangkok, December 1, 2025 – Thailand’s manufacturing sector continued its expansion in November, with the S&P Global Thailand Manufacturing PMI rising to 56.8, up from 56.6 in October. This marks the seventh consecutive month of growth and the fastest pace since May 2023.

The increase was driven by a record rise in new orders, fueling another substantial boost in production. Despite weak external conditions that led to a further decline in new export orders, domestic demand remained strong.

In response to the higher inflow of work, manufacturers expanded staffing and purchasing activities. However, backlogs of work accumulated again, registering the second-sharpest increase on record, only behind October’s levels.

Business confidence improved to its highest point in over two-and-a-half years, with manufacturers optimistic that expansion plans and improving economic conditions will support stronger sales in the year ahead.

On the pricing front, average input costs rose for the first time since June, while output prices remained stable, signaling that businesses are managing cost pressures without passing them onto customers.

The data reflects a resilient manufacturing sector that is benefiting from domestic demand and rising new orders, even as export markets remain challenging.