Bangkok, March 15-FTI reveals industrial confidence index The highest in almost 4 years, predicted in the next 3 months, expected to increase according to the tourism impetus domestic consumption and investment and elections that will increase the amount of money circulating in the economy. The private sector proposes that the government accelerate budget disbursement according to the work plan so as not to disrupt the economy during the transition of the government.
The Federation of Thai Industries (FTI) President Kriengkrai Thiennukul revealed the survey results of the Industrial Confidence Index in February 2023 at 96.2, up from 93.9 in January, the highest level in 47 years. month since April 2019, with an increase in all components, including the index, total orders, total sales, production volume Operating costs and performance of industrial operators' confidence continued to increase from the previous month. The supporting factor is the continuous expansion of the manufacturing sector. following the recovery of domestic demand Clearly recovering consumption and tourism sector and the virtue of China's opening up At the same time, the implementation of government economic stimulus measures through various projects as well as accelerating government spending Help drive the economy in the country. while the operating costs of raw material prices decreased from the previous month.
As for the factor that pressured entrepreneurs' confidence this month, it came from the demand of trading partners that contracted the global economy into a recession. While the situation of the Russian-Ukrainian war continues High inflation in large economies like the United States and Europe Moreover, exchange rate volatility and entrepreneurs are still concerned about raising interest rates. Price of petrol and electricity which is the main cost of the private sector
As for the index, forecasts for the next 3 months are expected to increase to 103.6 as entrepreneurs have confidence that the Thai economy is improving. with a push from the tourism sector domestic consumption and investment, as well as holding elections in May. which is expected to have more money circulating in the economy In addition, China's easing of disease control measures will benefit Thailand's export and tourism sectors.
However, the private sector has proposed that the government speed up budget spending according to the plan so as not to disrupt the economy during the transition of government. And to integrate cooperation with the private sector and relevant sectors in solving the problem of PM 2.5 dust, as well as giving importance to the implementation of the action plan to drive the national agenda to solve the problem of dust pollution.
Source: Thai News Agency