Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Agricultural Development Bank of China
InfoQuest

Thai industrial confidence indicator hits 28-month low

April 26, 2020


Abstract : The industrial confidence indicator in March was 88.0, lower than 90.2 in February, a 28-month low since December 2017, according to Mr. Suphan Mongkolsuthree, chairman of the Federation of Thai Industries (FTI).

InfoQuest, (April 23, 2020) -- The industrial confidence indicator in March was 88.0, lower than 90.2 in February, a 28-month low since December 2017, according to Mr. Suphan Mongkolsuthree, chairman of the Federation of Thai Industries (FTI).

The decline was mainly due to the Covid-19 pandemic, which led the government to announce the closure of shopping centers, stores and other business places, as well as the emergency decree to strictly control the spread of the outbreak. As a result, domestic economic activity, including the consumption of goods and services, continued to drop.

Currently, the business sector is facing such problems as the decline in production and sales, and delays in the transportation of goods and raw materials. Besides, the drought is becoming more and more serious, resulting in a shortage of raw materials in the agricultural processing industry and a decline in the purchasing power of the agricultural sector.

The industrial confidence index for the next three months is expected to fall to 96.0 from 98.1 in February 2020, the lowest in a decade since July 2009, as operators are concerned about the business in the next three months. If the outbreak does not abate, it will affect liquidity and economic recovery.

The FTI thus recommended the government to allow businesses to use epidemic prevention expenses for tax credits.

It also suggested that the government provide support to the domestic e-commerce platforms to adapt to the new consumer behavior in the wake of the outbreak.

Meanwhile, in government procurement, the government should encourage the purchase of domestic products (Made-in-Thailand).

Source: InfoQuest, by Tanawat Suayaem / Kasamarporn / Sasithorn, translated by Xinhua Silk Road

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: Thai industrial confidence

Reading:

Shanghai to hold months-long shopping festival to stimulate consumption

Roundup: Chinese bank ICBC facilitates smooth trade between China, Japan amid COVID-19

China expresses full confidence in Nigeria's determination to defeat COVID-19

Thai Commerce Ministry uses digital platforms to create 10 new business models

Thai Senate returns 93 million baht of budget for Covid-19 outbreak relief

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial