According to the president of the Federation of Thai Industries (FTI), the industrial sentiment index in Thailand rose to 96.2 in February, up from 93.9 in January. This marks the highest level in 47 months since April 2019, with the index increasing across all components, including total orders, total sales, production volumes, operating costs, and operating results.
The confidence of industrial operators continued to increase from the previous month, supported by the continuous expansion of the manufacturing sector and recovery in domestic demand, consumption, and tourism, as well as China’s opening up.
Furthermore, the implementation of various government economic stimulus measures and acceleration of government spending has helped to drive the economy in the country, while the operating costs of raw materials prices decreased from the previous month.
The 3-month expected index is at 103.6, up from 101.1 in January, as entrepreneurs are confident that the Thai economy is improving, with support from the tourism sector, domestic consumption, and investment. Additionally, the upcoming elections in May are expected to result in more money circulating in the economy. The relaxation of China’s disease control measures is also expected to benefit the export and tourism sectors of Thailand.
The increase in the industrial sentiment index is positive news for Thailand’s economy, indicating that there is confidence in the country’s manufacturing sector and overall economic growth. However, the government will need to continue to monitor the situation closely and make any necessary adjustments to policies to sustain this growth in the long term.