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Thailand’s Economy Exhibits Encouraging Trends
The Thai Industries Sentiment Index rose to 89.3 in July, driven by increased demand for food, medicine, and cosmetics, despite ongoing economic challenges like high household debt.
The Thai Industries Sentiment Index (TISI) rose to 89.3 points in July, marking its first increase in four months. This growth is attributed to increased demand for food, medicine, and cosmetic products, according to the Federation of Thai Industries (FTI). The uptick follows a significant low of 87.2 points in June, reflecting ongoing economic challenges, particularly for small and medium-sized enterprises.
Chairman Kriengkrai Thiennukul noted that heightened purchasing orders, alongside expedited government budget disbursement, bolstered business confidence. Increased state infrastructure spending has also injected necessary capital into the economy, particularly benefiting the construction sector.
Despite this improvement, Kriengkrai emphasized the need for caution due to persisting issues like high household debt, which currently stands at 91% of GDP. The TISI was based on a survey of 1,323 entrepreneurs across 46 industries, revealing concerns about the global economy and domestic political stability.
Source : Thailand’s economy shows positive signs
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