“Thai Industrial Confidence Index Hits 10-Year High, Expected to Rise Further in Next 3 Months: Government Spokesman”

Government spokesman said The Industrial Confidence Index in March 2023 was at 97.8, rising for the third consecutive month and the highest in 10 years, and it is expected that the index will rise again in the next 3 months to 106.3.

Today (April 23), Mr. Anucha Burapachaisri, Deputy Secretary-General to the Prime Minister for Political Affairs acting as spokesperson for the Prime Minister’s Office disclose the case The Federation of Thai Industries (FTI) revealed the Industrial Confidence Index in March 2023, with the result rising to 97.8, rising for the 3rd consecutive month and the highest in 10 years since January 2013 by the composition of the index It was found that almost all components of the index increased, total orders, total sales, production volumes. and operating results except operating costs

A spokesman for the Prime Minister’s Office said the March industrial sentiment index 2023 is the result of a survey of 1,322 respondents covering 45 industry groups. As for the confidence of industrial operators, the increase comes from positive factors from the expansion of domestic demand. Purchasing power in the region due to rising agricultural income The construction sector expands. and the tourism sector continues to recover from the number of foreign tourists and government measures to promote tourism. Especially the price of raw materials and the cost of electricity, including the price of energy that continues to fluctuate. interest rates that are in an upward direction weakening external demand in line with the global economy as well as the volatility of the baht It is also a risk factor for the Thai export sector.

The FTI predicts that in the next 3 months The industrial sentiment index will stand at 106.3 as a result of the Thai economy that tends to expand continuously. The driving factor is the tourism sector and domestic consumption. Including the opening of China This will support the tourism sector and Thailand’s exports in the second half of the year. However, risks from global economic problems and geopolitical conflicts (Geopolitics) will tend to be more violent.

“Industrial Confidence Index level is another important indicator. in implementing measures to drive the economy and stimulate the tourism sector and thanks to all parties who jointly support pushing the industrial sector, which is an important sector in the development of the country, the government is ready to assess and considering suggestions from entrepreneurs to work together to correct negative factors add positive factors both in terms of production costs, energy prices, and promoting the opening of new export markets, ”said Mr. Anucha.