BANGKOK, April 11 (Xinhua) -- Thailand's industrial confidence improved in March due to increased domestic demand buoyed by the visa exemption scheme and rising foreign tourist arrivals, data showed on Thursday.
The Thai Industries Sentiment Index rose to 92.4 last month from 90.0 in February as most components of the index picked up, including overall sales, total orders, production volume, and business performance, except the operating cost, according to the Federation of Thai Industries (FTI).
The reading was based on a survey of 1,336 entrepreneurs from 46 industry groups under the FTI.
The increased confidence was attributed to a continued expansion in the tourism sector, while the kingdom's exports saw notable growth, which was in line with the global and domestic economic recovery, the FTI said in a statement.
Despite that, high levels of household and business debt continued to dampen growth prospects, and entrepreneurs were also worried about high interest rates and financial costs amid global uncertainties.
The index forecast for the next three months inched up to 100.8 in March from 100.0 a month earlier, thanks to the government's tourism promotion measures, the disbursement of the fiscal budget, and the improved exports on the back of rebounding global demand. ■
