0924 GMT - Southeast Asia's manufacturing activity is likely driven by domestic demand, Miguel Chanco of Pantheon Macroeconomics writes in a note. The latest S&P PMI data showed broad-based regional momentum, with Asean's PMI hitting a more-than three-year high, Chanco writes. However, the new export orders sub-index returned to contractionary territory after two consecutive months of minimal gains, contradicting the rising trend for total new orders, Chanco notes. Thailand's gauge also appears to be detached from its real economy's continuing struggles, with its PMI indicating further manufacturing expansion, Chanco says. Business sentiment remained positive in Thailand "amid hopes that business expansion plans and improvements in economic conditions will support higher sales in the year ahead," says S&P Global. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
December 01, 2025 04:24 ET (09:24 GMT)
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