The government has revealed that Thailand’s industrial confidence index saw a decade-high boost in March.
According to Government Spokesperson Anucha Burapachaisri, the Industrial Sentiment Index (TISI) rose to 97.8 points in March, up from 94.1 points and 96.8 points in January and February respectively, and was the highest since January 2013. An opinion survey of 1,322 industrial entrepreneurs, covering 45 industrial groups, also found an increase in domestic demand thanks to increased purchasing power and a recovery in tourism.
Anucha noted, however, that businesses are concerned about production costs rising due to increases in the prices of raw materials, energy costs, inflation and the state of the baht currency. These issues, in addition to global economic fluctuations and geopolitical conflicts, pose significant downside risks that could hinder a strong recovery.
The spokesperson affirmed that the government is ready to respond to suggestions from the private sector and address these concerns, such as high energy prices and the need to secure new markets for Thai products. He added that with the right measures, the index could even pass 100 to 106.3 points by the end of June. (NNT)
