The Federation of Thai Industries (FTI) says Thai Industries sentiment index (TISI) rose again from 82.8 point in September to 84.7 points in October.
FTI says the October figure marks the second consecutive months increase and the highest level in five months.
However, auto sales decreased by 4.2% in October from a year earlier due to the slowdown in the Thai economy and stricter lending for auto purchases.
FTI says a total of 67,908 vehicles were sold last month. It says for the first 10 month of this year, auto sales totaled 621,740, dropping 13.6% from a year earlier.
Auto exports in October amounted to 111,229, up by 9% year on year.
Thai exports drop 8 percent in October
Thai exports for the month of October dropped 8.11 percent to US$18.5 billion compared to the same period last year, said Commerce Minister Apiradee Tantraporn.
Meanwhile, imports during the same period dropped 18.21 percent to US$16.4 billion resulting to Thailand’s trade surplus of US$2.1 billion.
Thai Economic growth to stand at 2.9% in 2015
Economic growth this year is expected to stand at 2.9% – the highest growth in three years, according to the Office of the National Economic and Social Development Board (NESDB).
The forecast was based on the growth in the third quarter. NESDB deputy secretary-general Porametee Vimolsiri stated that the economic growth in the third quarter of this year rose from 2.8% the previous quarter to 2.9%.
Thailand relaxes COVID-19 measures to help revive economy
During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.
Thailand relaxed more virus related social curbs on September 1st, in dozens of cities including Bangkok, in a move that may indicate that the country’s economy, hit hard by COVID-19 will soon revive, lead by the export sector and sound financial fundamentals.(more…)
Southeast Asia to relinquish its lead over Latin America says Moody’s
While the emerging economies of Southeast Asia have outperformed their counterparts in Latin America for most of the past two decades, their lead will slide in the next few quarters as Southeast Asian governments clamp down to fight the pandemic’s lingering second and third waves.
The Delta surge is casting larger clouds over the global recovery and emerging markets are in the thick of it. Despite the ebbing of the coronavirus variant in India, where it first emerged, its spread in Southeast Asia, Africa, and the Middle East has steepened the road to recovery in these regions.(more…)
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