28.4 C
Bangkok
Friday, March 29, 2024

Sentiment gains on higher orders of goods, spending

The Thailand Industry Sentiment Index (TISI) increased to 96.2 points in February, the highest level since April 2019, as manufacturing and consumer spending increased while the tourism recovery continued.

More goods orders played a key role in boosting the confidence of manufacturers, said Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI).

In January the TISI stood at 93.9 points.

“Thailand fully reopened the country last year. China reopened its country early this year. These are good for the Thai economy,” said Mr Kriengkrai.

The government stimulated consumer spending through the “Shop Dee Mee Khuen” tax rebate scheme, which ran from Jan 1 to Feb 15. The scheme increased demand and supply of goods, he said.

In February, prices of raw materials in the global market also began to decrease, leading to lower production costs, according to…

Read more…

Latest Articles