Thailand’s Industrial Confidence Index edges up in July

By k on August 26, 2009

BANGKOK, Aug 26 (TNA) – Thailand’s Industrial Confidence Index in July edged up to a level of 89.9 from 83.5 in June, showing that the domestic economy is on the path of recovery, according to a new survey by the Federation of Thai Industries (FTI).

FTI Chairman Santi Villassakdanon said the survey conducted on a random sample of 1,112 people working in 39 industries indicated the confidence index increase stemmed from the rise in purchase orders, total sales, selling prices, production and operating results.

He said economic stimulus measures taken by many countries–including Thailand–made economies of several countries, particularly Thailand’s trading partners, begin to show signs of recovery.

Simultaneously, the political situation remained suspended in July and the demand in overseas markets had recovered, as seen by an increase in the declared export value in various industries.

However, entrepreneurs remained worried about higher production costs due to the continued oil price hike. The index stayed below the level of 100, indicating the confidence among industry operators remained not so strong.

Mr. Santi said the expected index in the next three months rose to 96.7 from 93 because entrepreneurs acknowledged signs of economic recovery of many countries and projected they would benefit from the improved purchase orders, total sales, production and operating results.

Still, the index stayed higher than the registered 82.9 in the same period last year, showing that entrepreneurs were less worried about economic conditions since local and overseas economies are expected to show signs of recovery.

Even so, there remain negative factors needing to be monitored because they could affect performances of the industrial sector in the future. (TNA)

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