The method previously used to analyze the inelastic scattering of neutrons by 238U by separating the cross sections into compound nucleus and direct interactions is applied to the corresponding data for 232Th. The fission and capture channels are now included explicitly, resulting in a 5% increase in the compound nucleus contribution. Other data and theoretical techniques are discussed briefly. The excitation functions for 24 states up to 2.5 MeV are analyzed, together with two angular distributions at 2.5 MeV.