3-7-2023 (BANGKOK) Thailand’s business sentiment experienced a positive upswing in June, with both the manufacturing and non-manufacturing sectors displaying increased confidence, according to data released by the Bank of Thailand (BOT) on Monday.
The country’s business sentiment index (BSI) climbed to 51.0 last month, up from 49.7 in May. This improvement can be attributed to several sub-indices that saw notable increases, primarily driven by performance and production.
The manufacturing index, in particular, witnessed significant growth in sectors such as automotive, steel, and petroleum-related industries. Confidence in performance and production within these sectors played a key role in boosting the overall manufacturing index, as highlighted by the BOT in their statement.
Furthermore, respondents from the hotel and restaurant sectors reported a surge in confidence, primarily due to the ongoing recovery in the tourism industry. On the other hand, respondents in other non-manufacturing sectors reported relatively stable confidence levels during the surveyed period.
The Bank of Thailand compiled the data based on a comprehensive survey involving 509 participants from large and medium-sized firms across various sectors.
