InfoQuest (June 10, 2022) – The Federation of Thai Industries (FTI) announced that Thailand's industrial sentiment index (TISI) was 84.3 in May, down from 86.2 in April. The index has dropped for two consecutive months. Factors that negatively affect the confidence of entrepreneurs include the Russia-Ukraine conflict that continues to be protracted and intensified. As a result, the price of oil in the world market including commodity prices and raw material prices rose. Meanwhile, domestic demand still recovered slowly due to inflation and the rising cost of living. As a result, the purchasing power of the people decreased.
In addition, entrepreneurs are concerned about the high uncertainty of the global economy. The supply shortage arising from the Russia-Ukraine conflict and China's lockdown measures may affect Thailand's exports.
However, there are still positive factors, such as the gradual easing of COVID-19 control measures, opening policy and abolition of Test&Go, which will boost tourism and the domestic economy.
Source: InfoQuest, by Tanawat Suayaem/Rachada Kongkhunthian, translated by Xinhua Silk Road
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