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Industrial confidence index for January drops for the first time in 5 months

Industrial confidence index for the month of January dropped for the first time in five months to 86.3 points from last December’s 87.5 points

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Industrial confidence index for the month of January dropped for the first time in five months to 86.3 points from last December’s 87.5 points, said Mr Suphan Mongkolsuthee, president of the Federation of Thai Industries, today.

He attributed the declining confidence in the industrial sector to the concern over drought problem, risks from global economy, especially Chinese economy and declining domestic purchasing power.Industrial operators however welcomed global oil price slump as it helped reduce production costs.

The FTI predicted that industrial confidence index for the first quarter of this year would drop to 100.8 points compared to the last quarter’s 102.7 points reflecting industrial operators’ concern over volatility in global money market which will impact on foreign exchange rates.However, the FTI pointed out that operators still have confidence in the economy and to carry on with their businesses.

Source: Industrial confidence index drops for the first time in 5 months – Thai PBS English News

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Thailand’s Consumer Confidence Hits new Record Low in May

The University of the Thai Chamber of Commerce (UTCC) has reported that Thailand’s Consumer Confidence Index (CCI) for May fell to its lowest level ever due to COVID-19 concerns.

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BANGKOK (NNT) – The University of the Thai Chamber of Commerce (UTCC) reported on Thursday that consumer confidence hit a record low in May, due to the country’s latest and biggest COVID-19 outbreak so far.

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Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

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On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

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