The Federation of Thai Industries (FTI) has urged the new government to speed up its economic stimulus measures to sustain investors' confidence after the general election.
FTI reported on Thursday the Thai Industries Sentiment Index (TISI) rose in May to 95.9 points, thanks to improved local consumption. Local spending increased last month ahead of the new school semester and on more air-conditioner purchases at the peak of the summer. The index inched up from 95 points in April.
FTI chairman Supant Mongkolsuthree said while domestic consumption in May was good, business operators were concerned about declining exports in the face of the US-China trade war.
"We need stimulus measures for sustain the momentum to offset the export downturn," he said.
The FTI forecast the TISI would stood at 102.9 points over the next three months, up from 101.9 points, projected last month, as FTI was very optimistic that the new government would stimulate the Thai economy in the second half.
The TISI survey in May was conducted on 1,146 companies in 45 industrial sectors.