Industrial sentiment continued to improve for the fourth consecutive month in December, bolstered by the New Year shopping tax break and falling oil prices
The improvement was the result of positive factors such as the government’s personal income tax breaks, especially under the New Year “Shopping for the Nation” campaign, the Motor Expo 2015 and the declining oil price
The forward-looking index over the next three months stood at 102.7 points, down from 104.4 in November. Industries foresaw slowing demands in the first quarter of 2016 following hectic spending in the final quarter of last year on automobiles, electrical appliances and electronics products, fashion and jewellery