October’s industrial confidence index highest in seven months

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Industrial confidence index for the month of October was registered at 86.5 points, making it the highest in seven months since March when the index was pegged at 86.7 points, said Mr Suparat Sirisuwannangkul, vice president of the Federation of Thai Industries, on Thursday.

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He attributed to the rise of the index two months in a row to increase in the orders of Thai products for the forthcoming Christmas and New Year festivals abroad.

Industries which saw a rise in the confidence index are garments and apparels thanks to the demand for black clothing, leather wares such as shoes, jewelry, automobiles and spare parts, petro chemicals, plastic, paper pulp, cosmetics, medical equipment and health-related products.

Industrial confidence index which dropped covers such products as cement, cement, granite and marble, farm machinery, sugar and alternative energy among others.

Confidence index projection for three months ahead of October was registered at 102.9 points compared to September’s 102.4 points, representing the highest in 11 months. Most industrialists have projected that the overall Thai economy would go up, thanks to the government’s investments in mega projects to stimulate the economy.

Cement production for the month of September stood at 2.66 million tonnes, representing 3.3 percent drop compared to the same period last year’s 2.75 million tonnes.