BANGKOK, Thailand – The Ministry of Finance has unveiled the Thailand Regional Economic Sentiment Index for August 2024. It reflects confidence in economic conditions for the next six months, especially in the northern and southern regions, with supporting factors from the service and agriculture sectors. The index was constructed by surveying economic circumstances nationwide, both in Bangkok and the other 76 provinces.
In the eastern region, the future economic sentiment index stood at 78.0, indicating better confidence in the service sector, with an expectation of the upcoming high season for tourists and ongoing tourism promotion activities. The revival in the agricultural sector, as well as the investment in electric vehicle (EV) industries, is also promising.
The northern region’s index stood at 77.1, particularly in the service and industry sectors, thanks to the increase in exports and the production of agricultural processing products.
In the Northeast, the index stood at 75.4, especially in the service and the agriculture sectors, because it will enter the harvest season of major crops, such as rice, cassava, and sugar cane.
The western region’s future economic sentiment index stood at 73.4, showing positive trends in the service and agriculture sectors thanks to growing demand for rice consumption domestically and internationally.
The South was at 71.1, mainly in the service sector, as the number of domestic and international tourists continued to increase, and the investment sector grew because of the growing demand for goods and services.
Bangkok and surrounding areas showed 63.6, which is notable in the service and agriculture sectors. However, some entrepreneurs are still concerned about the decrease in consumers’ purchasing power.
In the central region, the future economic sentiment index was at 62.0, especially in the agricultural and service sectors, as it is entering the planting season and there is an expectation of higher amounts of rain. (PRD)
