World Economy

Thai Industry Confidence Dips

Thai Industry Confidence DipsThai Industry Confidence Dips

The industrial sentiment index continued to slide in August, down for the eighth straight month in August on worries about the struggling economy, NewsNow reported. The index dropped to 82.4 points, down from 83 in July, the Federation of Thai Industries reported from a survey of 1,204 industry leaders in 44 sectors. The index had been dragged down by lower overall orders, fewer sales, lower production and lower company returns. FTI chairman Suphan Mongkholsuthee said industry was worried about overall economic circumstances, and the contraction of domestic consumption, especially in the farm sector due to falling farm prices that led to careful spending. The global economy was still fragile while Thai industry faced tough competition.  Industry leaders expected that the government’s stimulus measures would speed up government spending, assist small and medium-sized enterprises and finally lead to more domestic spending and consumption. The respondents showed some confidence in the next three months, pushing the index of future prospects up slightly to 102.0 points in August, from 101.2 in July.