Thai Industries Sentiment Index in August lowest in 8 months

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BANGKOK, Sept 19 – Thai Industries Sentiment Index (TISI) in August slightly dropped to its lowest level in eight months at 98.5 from 98.7 in the previous month, said the Federation of Thai Industries (FTI).

FTI Chairman Payungsak Chartsuthipol said that entrepreneurs are not confident in the performance and economic growth forecast cut by many agencies following global economic slowdown. However, overall sales, production for domestic sales still grow in the fashion industry, construction and auto industry.

It is believed that domestic sales promotion will be a key factor to stimulate the economy in the second half of this year.

The August confidence index projection for the next three months stays at 105.7, increasing from 104.8 in July due to increasing orders and production quantity and lower operating costs.

He advised the government to build confidence with its flood prevention plan and to prepare measures to help Small and Medium Enterprises (SMEs) affected by the daily minimum wage hike, and investment promotion in neighbouring countries as well as promoting exports and domestic consumption.