Thai industries sentiment hits 11-month low in May

[snoop1130]

FILE PHOTO: A container is loaded onto a cargo ship at a port in Bangkok March 30, 2015. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's industries sentiment dropped for a second straight month in May, hitting an 11-month low, due to a third wave of coronavirus infections and a slow vaccine rollout, an industries group said on Tuesday.

 

The Federation of Thai Industries (FTI) said its Thai industries sentiment index fell to 82.3 last month from 84.3 in April, when its biggest outbreak so far emerged.

 

The tourism-reliant country started its mass vaccination drive on Monday and is preparing a phased reopening to vaccinated foreign visitors later this year, dependent on its progress with inoculations.

 

"The third wave has yet resolved while new clusters continue to emerge, especially in factories, affecting the manufacturing sector. Vaccinations have also been slow," FTI chairman Supant Mongkolsuthree told a briefing.

 

Thailand on Tuesday reported 2,662 new infections and 28 new deaths, with the current outbreak accounting for more than 80% of its total and about 93% of fatalities.

 

The index for the next three months, however, picked up from April on optimism over the government's economic stimulus packages and increased exports, a key driver of Thai growth.

 

The FTI urged the government to accelerate the vaccinations to create herd immunity, plus introduce additional financial measures to support smaller businesses, particularly in the tourism sector, which has yet to recover.

 

-- © Copyright Reuters 2021-06-08

 

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[Stargeezr]

And here I thought that Thailand did not really rely on Tourism. I thought that the revenue and

jobs from the international tourist was just a small percentage of the Thai wealth.  When I tried to get a 90 day

visa 2 years ago, I was told that it was better to get a 6o day visa, as the 90 day and longer visas were for

workers and other kinds of holiday travelers. IO do hope that there is an improvement for the

visa requirements in the future. Maybe by this Winter we can see a slight improvement, especially

if the travel numbers stay low until then.  There must be at least 1 or 2 brains in the government 

that belong to an intelligent and also smart politician in the Thai government.  Even in most

militaries in the world there is a few people of good intelligence.  At least I am hopeful that there

is.

Geezer

[trainman34014]

1 minute ago, Stargrazer9889 said:

Ansd here I thought that Thailand did not really rely on Tourism.

Yes; that's what was always preached by the Almighty of Bangkok Goons; but now they are always referring to 'The Tourism Reliant Country'  !

[chalawaan]

But wait!

 

Wasn't there a glowing unicorns and rainbows report out just last week? 

 

I guess the MDMA wore off and that lad that was nicked upcountry last week was the govenments main happy pill supplier.

[connda]

I don't know why.  Like Covid vaccine happy talk, I'm constantly reading news articles here where the government, banks, and business are forecasting nothing but positive near-term growth in exports and domestic consumption.