Thailand's industrial confidence improves in January-Xinhua

Thailand's industrial confidence improves in January

Source: Xinhua| 2023-02-15 18:54:45|Editor: huaxia

BANGKOK, Feb. 15 (Xinhua) -- Thailand's industrial confidence improved in January following a steady growth in domestic demand boosted by government stimulus measures and a tourism rebound, data showed on Wednesday.

The Thai Industries Sentiment Index (TISI) rose to a 43-month high of 93.9 last month from 92.6 in December 2022, as most components of the index improved except operating costs, according to the Federation of Thai Industries (FTI).

Entrepreneurs were more concerned over the global economic slowdown, rising energy prices and interest rates, and Thai baht appreciation, while they were more optimistic about domestic growth, FTI Deputy Secretary-General Sorakit Manbuphachat told a news conference.

The three-month expected TISI increased to 101.1 in January, up from 99.9 a month earlier, aided by a recovering tourism industry, particularly the return of Chinese tourists, as well as rising orders and productions, which were in line with domestic demand growth, Sorakit said.

The reading was based on a survey of 1,321 respondents from 45 industry groups under the FTI, a written statement said.

The FTI advised the government to take measures to help reduce people's living costs and enterprises' production costs, and mitigate the impact of rising interest rates on businesses.