Thai industries confidence at 2-year high as activity recovers

Thai industries confidence at 2-year high as activity recovers

Supant Mongkolsuthree (Photo supplied)
Supant Mongkolsuthree (Photo supplied)

Thailand's industries sentiment in March reached a 25-month high, bolstered by a recovery in economic activity as Covid-19 restrictions were eased, an industries group said on Thursday.

The Federation of Thai Industries (FTI) said its industries sentiment index rose to 89.2 in March from a drop to 86.7 in the previous month.

"The overall situation is nearly normal. People are getting back to work and spending more money," FTI Chairman Supant Mongkolsuthree told a news conference.

However, industries are still worried about the Russia-Ukraine war, which has pushed up the price of energy and materials, he said.

The group is urging the government to further relax travel restrictions to boost the vital tourism sector, which was a key growth engine before the pandemic.

In a separate briefing, the University of the Thai Chamber of Commerce said consumer spending during the upcoming Thai New Year is expected to drop by 5% to about 107 billion baht, due mainly to high living costs.

Excluding 2020, when the government imposed tight Covid-19 curbs during Songkran holidays, spending will be the lowest in 10 years, university president Thanavath Phonvichai said, referring to the festival that takes place from April 13 to 15.

While the government will allow some Songkran celebrations this year, it has banned the infamous street water fights that in a normal year draw thousands of people into the streets.

Do you like the content of this article?
COMMENT (2)

Giant killers

Thailand shocks powerful Dominican Republic to close out first round of world women's volleyball championship with four wins and just one loss.

1 Oct 2022

‘Phenomenal’ Arsenal sink 10-man Spurs

LONDON: Mikel Arteta insisted Arsenal proved their credentials as genuine Premier League title contenders with an impressive 3-1 win over 10-man Tottenham in Saturday’s north London derby.

1 Oct 2022

Business chiefs unite for green future

The CEOs of five of Thailand’s leading businesses have stressed the need for companies of all sizes to contribute more to environmental protection, saying it is now the norm in development and sustainability practice.

1 Oct 2022