That followed February's reading of 51.6, which indicated the first monthly activity expansion in seven months. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) fell to 50.0 in March.

ReutersĬhina's sprawling manufacturing sector, accounting for a third of the world's second-largest economy by value, lost momentum in March amid still-weak export orders, tapping the brakes on the country's economic recovery from restrictive COVID-19 policies. at a factory in Jiujiang, Jiangxi province, China June 22, 2021. The election on May 14 will be a battle between parties aligned with the military-backed establishment, led by Prime Minister Prayut Chan-o-cha, 69, and the billionaire Shinawatra family-backed Pheu Thai party, this time led by Paetongtarn, the 36-year-old daughter of Thaksin and the niece of another premier in exile, Yingluck.Employees work on the production line of American infant product and toy manufacturer Kids II Inc. 'Political uncertainty remains regarding the timeline of general elections and government formation,' it said. 'Thailand's economic recovery continued to lag' that of Southeast Asian countries as falling exports have clouded the outlook, with domestic price pressures and elevated household debt posing downside risks, the bank said. While investment would continue to expand, goods exports in dollar terms were expected to contract by 1.8% this year due to the global slowdown, the World Bank said. The country received 11.15 million foreign tourists last year, compared with nearly 40 million in pre-pandemic 2019. The World Bank projects economic growth of 3.7% in 2024.įoreign tourist arrivals are expected to rise to 27 million this year and 'surpass the pre-pandemic level by 2024', the World Bank said in a report. The 2023 outlook was unchanged from a forecast in December, and compared with 4.1% growth predicted in September. The Thai economy is expected to grow by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and strong pent-up demand following China's reopening, the World Bank said on Friday. Carved soap and other items for sale to tourists are seen at the crowded Hua Hin Walking Street market on Wednesday.

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