Industries Sentiment Index Declined Slightly in February

by Natthaphon Sangpolsit

BANGKOK (NNT) - The Thai Industries Sentiment Index (TISI), one of the bellwethers for developments in Thailand’s economy, declined slightly in February from the previous month amid rising COVID-19 infection numbers.

The index, compiled by the Federation of Thai Industries (FTI), stood at 86.7 in February, down from 88 in January. The decline was also attributed to higher production costs in the industrial sector, with exchange rate volatility and the Russia-Ukraine conflict adding further uncertainty.

The FTI’s index forecasting industries’ sentiment for the next three months rose to 97.1, as entrepreneurs expect COVID case numbers to subside.

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FTI Chairman Supant Mongkolsuthree said the private sector wants to see the government lift Test & Go requirements for international tourists. He said businesses are also calling for a vaccine passport to be implemented in its place for the convenience of travelers. Additionally, the government has been urged to fix fuel prices as well as power tariff rates.

According to the chairman, private sector representatives want a joint public-private working committee to be formed in order to address the Russia-Ukraine situation. He said such a committee would enable the private sector to plan more effectively, with measures issued to help affected businesses.