Industry Ministry launching Industrial Economic Indicator

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monitoring the three aspects of production, investment and investor confidence .

Industry Minister Prasert Boonchaisuk said today the ministry will start using the index early next year to indicate the economic status of Thailand’s industry.

Mr Prasert said it is the first time an index database from agencies concerned under the ministry is to be collected and integrated. The base index is set at 50.

In line with past use of indicators, an index under 50 will reflect Thailand’s deteriorating economy.

The country’s industrial index in September stood at 40.91. However, Mr Prasert said the new index will have to be adjusted, which should not be much different than the current one.

He said political factors have affected the confidence of consumers, industrial entrepreneurs and the tourism industry, causing lowered economic indices. (MCOT online news)