Industry blues: Thailand’s TISI takes a double dip, blaming government formation woes

The Thailand Industry Sentiment Index (TISI) suffered another setback after experiencing decline for the second month in a row, partly due to uncertainties surrounding the formation of a new coalition government. In May, the TISI dropped to 92.5 points from 95 in April.

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), cited issues in setting up a government and the political situation as significant factors in the TISI decline.

Despite the Move Forward Party (MFP) securing the most votes in the May election and quickly partnering with seven other political parties, doubts have risen over MFP leader Pita Limjaroenrat‘s alleged violation of Section 151 of the organic law on the election of MPs. Kriengkrai questioned whether the Senate would vote in favour of Limjaroenrat’s prime ministerial candidacy.

The TISI decline is influenced by…