Thai Industries Sentiment Index drops below 100 in July

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BANGKOK, Aug 17 – The Thai Industries Sentiment Index in July dropped to 98.7 from 102.7 in the previous month, sinking beneath 100 for the first time in six months, said Payungsak Chartsutipol, chairman of the Federation of Thai Industries (FTI).

The prolonged European economic crisis and the slowdown of the Chinese economy have impacted Thai exports, as seen in a drop in foreign sales.

The industrial sector faced higher production costs and labour shortages in some industries.

July’s forecast index for the next three months stood at 104.8, declining from 105.8 in June due to falling orders and sales.

Entrepreneurs want the government to boost border trade with neighbouring countries and to help them access capital and soft loans more easily.

They also asked the government to negotiate an extension of customs privileges, and the generalised system of preferences (GSP) from the US and European Union.