The Thailand Industry Sentiment Index (TISI) rose for the first time in five months to 90.9 points in November, thanks to the recovery of tourism and state measures to ease the financial burden of businesses and households, says the Federation of Thai Industries (FTI).
The index was at 88.4 points in October.
Montri Mahaplerkpong, vice-chairman of the FTI, attributed the rise to a tourism spike, which helped increase domestic spending, and the government's energy price controls and debt suspension scheme.
Manufacturers enjoyed better sales and production in November than the previous month, noted the FTI.
The November TISI was based on a survey of 1,326 entrepreneurs who are members of the FTI. Respondents were most concerned about interest rates because higher rates would increase the financial burden for companies.
Last week, the Thai Bankers' Association signalled the banking industry would hold prime interest rates steady, in line with the Bank of Thailand's policy rate, as the US Federal Reserve is expected to trim interest rates next year.
The Bank of Thailand held its policy rate unchanged at 2.50% last month, pausing its tightening for the first time this year.
In the energy sector, the FTI wants the government to consider maintaining the power tariff at 3.99 baht per kilowatt-hour from January to April next year to help businesses control their operating costs.
On Nov 30, the Energy Regulatory Commission approved hiking the power tariff by 17.3% to 4.68 baht a unit, up from 3.99 baht a unit at present, based on higher fuel costs and the need to reimburse the state power generator.