Thailand’s manufacturing optimism increased for the sixth consecutive month in November on the back of rising local demand and an influx of tourists.
The Federation of Thai Industries (FTI) reported that November’s Thai Industry Sentiment Index (TISI) was 93.5, up from 93.1 in October.
Last week, the kingdom recorded nearly 10 million overseas visitors; the FTI expects that number to more than quadruple in the coming year.
FTI Chairman Kriengkrai Thiennukul cited increased automotive and electronic output as examples of other industrial gains made possible by the better semiconductor supply. Moreover, he said, exporters profited from the drop in freight prices.
Critics of growing energy prices in particular have caused Kriengkrai to predict a decline in the industrial index over the next three months.
Weaker global demand and an appreciating Thai baht have both taken a toll on Thailand’s exports, a key economic engine.
