12-12-2023 (BANGKOK) Thailand’s industrial sentiment experienced a notable increase in November, marking the first growth in five months. The surge was attributed to various factors, including a rise in tourism, increased consumption and exports, as well as the implementation of new government measures, according to the Federation of Thai Industries (FTI).
The industrial sentiment index, as reported by the FTI, climbed from 88.4 in October to 90.9 in November.
The FTI stated in a press release that the improvement in exports was a significant contributing factor, driven by the recovery of demand from partner countries, which subsequently accelerated manufacturing activities.
Despite the positive outlook, the FTI expressed concerns regarding higher interest rates and the increasing minimum wage. The group highlighted that adjustments in the minimum wage could lead to higher costs for businesses, while uncertainties in the global economy continue to exert pressure on exports.
