InfoQuest (May 19, 2022) – Mr. Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI) announced that the Thailand's Industrial Sentiment Index (TISI) was 86.2 in April, down from 89.2 in March this year.
The five-month low index is due to higher production costs as the Russia-Ukraine conflict pushed up the price of energy and raw materials. TISI was also dented by declining domestic demand and household spending.
While a weak baht has boosted exports, it has increased the cost of imports and raw materials, particularly oil.
The forecast confidence index for the next three months is expected to fall to 95.9 from 99.6 in March due to the possibility of jump in the diesel prices after the government subsidy is reduced.
Given this, non-governmental enterprises put forward the following suggestions: 1) stabilize the diesel price, capping at 35 baht/liter; 2) roll out economic incentives to reduce the people’s living burden; 3) support and encourage investment and ensure the safety of industrial chain; 4) keep bath competitive; 5) launch the tourism measures to facilitate foreign visitors.
Source: InfoQuest, by Tanawat Suayaem/Kasamarporn Kittisamphan/Rachada Kongkhunthian, translated by Xinhua Silk Road
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