Thailand's manufacturing sector continued to expand at the start of the third quarter, though marginally amid a fall in new orders, survey results from S&P Global showed Wednesday.
U.S. manufacturing appeared to stabilize at weaker levels in July amid a gradual improvement in new orders, but factory employment dropped to a three-year low, suggesting that layoffs were accelerating. The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI edged up to 46.4 last month from 46.0 in June, which was the lowest reading since May 2020. It was the ninth straight month that the PMI stayed below the 50 threshold, which indicates contraction in manufacturing, the longest such stretch since the 2007-2009 Great Recession.
Asia week ahead: Reserve Bank of Australia policy move and regional PMI data
The Reserve Bank of Australia is likely to stand pat at next week's policy meeting