Industrial sentiment down in Dec on weak spending

Industrial sentiment down in Dec on weak spending

Consumers still have limited buying power, while construction sector has slowed down

Shipping containers are stored at a port operated by the Port Authority of Thailand. (Photo: Port Authority of Thailand)
Shipping containers are stored at a port operated by the Port Authority of Thailand. (Photo: Port Authority of Thailand)

Thailand's industrial sentiment dropped in December, weighed down by weak spending power and export concerns, the Federation of Thai Industries (FTI) said on Wednesday.

The FTI said its industrial sentiment index in December 2023 dropped to 88.8 from 90.9 in the previous month.

"Consumers' purchasing power has yet to fully recover due to high household debt problems... the construction sector also slowed," the FTI said in a statement.

While facing rising freights, exports should be supported by improved global demand, it said.

Another industrial index that projects sentiment over the next three months also fell in December, hurt by concerns over wage hikes and geopolitical conflicts, the FTI added.

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