Thai industries mood rises for first time in 6 mths

[Jonathan Fairfield]

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

 

BANGKOK (Reuters) - Thailand's industries sentiment rose for the first time in six months in September thanks to an easing of coronavirus curb, while reopening plans should bolster the mood further, an industries group said on Tuesday.

 

The curbs were relaxed in September to help spur activity. On Monday, Prime Minister Prayuth Chan-ocha said quarantine  requirements for some vaccinated visitors from Nov. 1 would be waived, which sent tourism-related shares soaring on Tuesday.

 

The Federation of Thai Industries (FTI) said its industries sentiment index increased to 79.0 in September, a three-month high, from 76.8 in the previous month.

 

An index projecting sentiment over the next three months climbed to 93.0 in September from 90.9 in August, also lifted by vaccine rollout progress and reopening plans, the FTI said.

 

"After the relaxation of curbs, industries sentiment quickly bounced back and we believe tourism businesses will start moving," FTI Chairman Supant Mongkolsuthree told a briefing.

 

"Thailand remains an attractive destination for travel and other investment," he said, adding that welcoming more foreign visitors was necessary to revive a key industry that generally accounts for more than 10% of gross domestic product.

 

The FTI urged the government to further relax restrictions and introduce additional stimulus measures to boost consumption while helping provide liquidity to businesses.

 

The group said rising oil prices were a concern, while a 10.5% fall in the baht against the dollar so far this year was good for exports, a rare bright spot in the economy.

 

The FTI forecast Southeast Asia's second-largest to grow between zero and 1% this year, after last year's 6.1% contraction.

 

(Reporting by Satawasin Staporncharnchai; Editing by Martin Petty)

 

-- © Copyright Reuters 2021-10-12

 

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[nobodysfriend]

16 hours ago, Jonathan Fairfield said:

"Thailand remains an attractive destination for travel and other investment," he said, adding that welcoming more foreign visitors was necessary to revive a key industry that generally accounts for more than 10% of gross domestic product.

That's right .

[Isaan sailor]

That won’t last.  Thai Baht on a tear now—up over 2% in last 48 hours.  Why?

[jacko45k]

Just now, Isaan sailor said:

That won’t last.  Thai Baht on a tear now—up over 2% in last 48 hours.  Why?

Because of them opening up to tourism soon......

[bangon04]

""Thailand remains an attractive destination for travel and other investment," he said, adding that welcoming more foreign visitors was necessary to revive a key industry that generally accounts for more than 10% of gross domestic product."

 

estimates may vary........

[johng]

50 minutes ago, bangon04 said:

generally accounts for more than 10% of gross domestic product."

I though they estimated tourism was worth upto 30% of GDP ? (pre Covidiocy of course)

[jacko45k]

13 hours ago, johng said:

I though they estimated tourism was worth upto 30% of GDP ? (pre Covidiocy of course)

Perhaps why the word 'estimate' was used.

[zzaa09]

What of the agricultural sectors mood?