The Thailand Industries Sentiment Index (TISI) hit its highest level in 66 months in November as manufacturers increased production in readiness for the long New Year holiday, according to the Federation of Thai Industries (FTI).
FTI chairman Supant Mongkolsuthree said on Wednesday that its survey last month showed the TISI at 93.9 points, up from 92.6 in October.
The index has increased over two consecutive months as manufacturers and distributors launched their promotion campaigns, resulting in a significant growth in local sales in the fourth quarter, particularly in fashion products, food, automobiles, electronics and home appliances.
"Meanwhile, the manufacturers took benefits from declining oil prices and the weakness of baht," he said.
The FTI forecast is for the TISI to reach 107.4 points over the next three months, thanks to the general election due early next year.
The TISI survey involved 1,210 companies in 45 industrial sectors.