BANGKOK, Aug 15 – Thailand’s industrial confidence index in July plunged to its lowest level in seven months to 91.9, down from 93.1 in June, the Federation of Thai Industries (FTI) announced today.
FTI chairman Payungsak Chartsuthipol said the sliding confidence index was mainly due to concerns over declining purchasing power, the internal political situation and natural disasters–especially floods in many areas of the country.
Global volatile economic situation has impacted Thailand’s exports, he said, adding that the confidence index in the next three months was predicted at 97.2, a decline from 98.7 in June.
Investors are most concerned about the impact from oil price while other troubled factors are global economic situation, internal politics, exchange rate and interest rate for borrowing, he said.
The private sector has called on the government to unleash economic stimulus, boost the people’s purchasing power, accelerate mega projects to help stimulate the economy, and support the use of Thai currency for border trading with neighbouring countries.
Mr Payungsak said the government should improve various border checkpoints to facilitate customs procedure in order to connect Thailand with neighbouring countries and tackle corruption on the border.