Industry sentiment improved for the third consecutive month in November, buoyed by stronger domestic consumption in several sectors, the Federation of Thai Industries said Tuesday.
FTI chairman Suphan Mongkulsuthee said the group's Industries Sentiment Index (TISI) rose to 85.8 points last month, up from 84.7 in October, its highest point in seven months.
The rising index was the result of improving prospects for fashion, furniture, automobile, machinery, food and drug businesses. At the same time, oil prices remained low and on a downward trend, both positive influences on manufacturers' transportation costs.
He said the improved confidence would encourage operators to invest in machinery and technology improvement to upgrade overall production efficiency.
Meanwhile, exporters remained worried about the tepid economies of their trading partners and the impact of drought on Thai farmers' incomes.
Manufacturers surveyed by the federation said they believe the government's strategy to tighten connections with Asean neighbours will boost trade and investment.
The index covers 1,200 businesss in 44 sectors, taking into account overall orders, sales, production and business performance.
Industry sentiment improved for the third consecutive month in November, buoyed by stronger domestic consumption in several sectors, the Federation of Thai Industries said Tuesday.FTI chairman Suphan Mongkulsuthee said the group's Industries Sentiment Index (TISI) rose to 85.8 points last month, up from 84.7 in October, its highest point in seven months.The rising index was the result of improving prospects for fashion, furniture, automobile, machinery, food and drug businesses. At the same time, oil prices remained low and on a downward trend, both positive influences on manufacturers' transportation costs.He said the improved confidence would encourage operators to invest in machinery and technology improvement to upgrade overall production efficiency.Meanwhile, exporters remained worried about the tepid economies of their trading partners and the impact of drought on Thai farmers' incomes.Manufacturers surveyed by the federation said they believe the government's strategy to tighten connections with Asean neighbours will boost trade and investment.The index covers 1,200 businesss in 44 sectors, taking into account overall orders, sales, production and business performance.
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