Thailand’s industrial sentiment index for August came in at 90.5, compared to 89.0 in July. The figure represents a three-straight month increase as economic activities continued to return to normal after the Covid-19 pandemic, according to the Federation of Thai Industries.
Tourism outlook remains bullish after easing Covid restrictions including the cancellation of Thailand Pass Program and the government’s stimulus package to boost tourism and domestic spending.
However, there are negative sentiments from the slowing down of global economic growth, especially major trade partners such as the United States and Europe that are facing rising inflation, while the war between Russia and Ukraine is still going on. The chip shortage will have an impact on electric appliances and some vehicle models, which would be a negative sentiment for Thai exports.
Furthermore, producers are still concerned about rising production and material costs such as feed cost, ore and aluminium, electrical bills and logistics cost.
