BANGKOK – Thai industries sentiment index dropped to a 28-month low in March because of weak demands amid the coronavirus outbreak, says the Federation of Thai Industries (FTI).
FTI Chairman Supant Mongkolsuthree said Thai Industries Sentiment Index (TISI) decreased from 90.2 in February to 88 in March.
The TISI survey also found that manufacturers and companies in 45 sectors were concerned over the effects of Covid-19 in the next three months, creating grim prospect for recovery, he said.
Auto industry was among the hardest hit sectors, Surapong Paisitpatanapong, the FTI’s automotive industry club spokesman, said.
Car production in March decreased by 26 percent year-on-year, down to 146,000 units, he noted.
The FTI expected car production this year to plunge to 1.4 million units, missing its target of 1.9 million. If the crisis dragged on until June, the production could sink further to around 1 million units, Surapong added.
The FTI’s automotive industry club had lowered its projections for car exports and domestic sales earlier this year. (TNA)