BoT finds business confidence up in September

BoT finds business confidence up in September

BANGKOK, 4 October 2016 (NNT) – A Bank of Thailand (BoT) survey of 671 medium to large businesses in September found business confidence is on an upswing after moving downward in the 2 months previous. 

The BoT put the nation’s business confidence index for September at 50.3 after seeing confidence at 47.8 in August. It noted figures were up across all industries and in every subsection of the index. Notable jumps were seen in the metal sector, which reported increased demand across the globe, and the automotive parts sector, which saw more orders both domestically and internationally. 

Confidence over the next 3 months has also risen to over 50 points with most businesses believing the overall economic situation will continue to improve. The most confidence was reported in the tourism sector, which is anticipating big numbers during the end of year high season. 

The Thai central bank assured it is also monitoring the situation surrounding Deutsche Bank, which is being fined by the US Justice Department, but does not see any impacts on Thailand’s financial institutions from the issue. 

 

-- nnt 2016-10-04