Thai Industrial Confidence Surges for Sixth Month

[snoop1130]

 

BANGKOK (NNT) - Thailand’s industrial confidence soared for the sixth straight month in November, boosted by recovering domestic demand and foreign tourist arrivals.

 

According to the Federation of Thai Industries (FTI), the Thai Industry Sentiment Index (TISI) edged up to 93.5 in November from 93.1 the previous month.

 

The kingdom reported over 10 million international visitors last week, a figure that is predicted by the FTI to more than double next year.

 

FTI Chairman Kriengkrai Thiennukul highlighted other positive industry developments, such as higher vehicle and electronic production due to improved semiconductor supply. He added that declining freight rates benefited exporters.

 

On the downside, Kriengkrai noted that the industry index is expected to drop within the next three months due to concerns over increased production costs, particularly rising energy prices.

 

As one of the main drivers of Thailand’s economy, exports were hit by weakening global demand while appreciation of the Thai baht lowered trade competitiveness.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221214102948756

 

-- © Copyright NNT 2022-12-14

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[RichardColeman]

11 hours ago, snoop1130 said:

Thailand’s industrial confidence soared for the sixth straight month in November, boosted by recovering domestic demand and foreign tourist arrivals.

To me it seems these people are race horses built for the flat and are about to come up against a hurdle of recession !

[Isaan sailor]

Good thing their six-month survey concluded in November.  The Baht has clobbered the USD over the past six weeks..  The Pound and Euro have not faltered quite as much, though.

[jacko45k]

22 hours ago, Isaan sailor said:

Good thing their six-month survey concluded in November.  The Baht has clobbered the USD over the past six weeks..  The Pound and Euro have not faltered quite as much, though.

It is (the US$)  still about 6% up on where it was at the start of the year....it is just the USD falling back to where it was before their hard line on inflation. I suspect the baht will strengthen further though.

Edited December 16, 2022 by jacko45k