The Thai Industries Sentiment Index (TISI) in March rose for the fourth consecutive month, to 102.1, up from 100.9 in February, according to a survey conducted by the Federation of Thai Industries (FTI).
The survey was conducted among 1,038 entrepreneurs in 42 industrial groups.
FTI Chairman Phayungsak Chartsuthipol said the rising Thai Industries Sentiment Index (TISI) resulted from improving orders, sales, production quantity and turnover in major industries including food, beverages, sugar and auto parts and spares.
The TISI has risen above 100 for two consecutive months following last year’s devastating flood, indicating recovery in the Thai industrial sector and accelerating production of consumer goods to meet high demand during the Songkran New Year in April, Phayungsak said.
A recent survey found confidence in orders and domestic sales continued to rise. The FTI chairman said if the government promotes domestic consumption, it will boost Thai economic growth and cut risks incurred from the volatile global economy.
According to the survey, entrepreneurs were most concerned over rising oil prices, followed by global economy, currency exchange rate, local politics and interest rate.
They also recommended that the government should create measures to help entrepreneurs affected by rising minimum wages and to develop labor skills.
In a related development, automobile production in March surged to 190,935 units, marking the highest level in 51 years since 1961, up 11.01 percent from one year earlier, FTI Automotive Industry Club spokesman Surapong Paisitpattanapong announced on Thursday.
The country’s automobile production from January through March totaled 499,560 units, a 6.52 percent increase year-on-year.
Surapong said that in March, 84,016 automobile units were manufactured for export, rising by 4.75 percent compared to the same period last year, while production for domestic sales recorded 106,919 units, up 16.48 percent from a year earlier.
Meanwhile, domestic car sales in March grew by 19.3 percent year-on-year to 110,928 units.
The Automotive Industry Club projected that the automobile production in April through June would reach 477,777 units, increasing by 39.85 percent from the same period last year, the spokesman added.