Thailand
Thai Industries sentiment picks up as virus curbs ease
Thai manufacturers’ outlook picked up for the first time in three months in February after restrictions to contain a recent coronavirus outbreak were eased, the Federation of Thai Industries said on Thursday.
The FTI’s Thai industries sentiment index rose to 85.1 last month after hitting a six-month low of 83.5 in January, it said.
“The manufacturing increased on higher demand at home and abroad, supported by easing Covid-19 containment measures, FTI chairman Supant Mongkolsuthree told a news conference.
Sentiment was also lifted by government stimulus measures and increased export orders on higher global demand, he said.
Thailand’s exports, a key driver of its growth, are expected to rise 4% this year after declining 6% last year, according to the commerce ministry.
The group’s index projecting sentiment over the next three months also increased, Supant said, adding the country’s coronavirus vaccine distribution was also a boost as its immunisation campaign started last month.
However, the confidence of the Thai Chamber of Commerce hit a record low in February, dented by long sluggish tourism, Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, told a separate briefing.
“The business sector felt the outlook for the economy is not bright as tourism is completely quiet,” he said.The tourism-reliant country has yet to remove its strict entry curbs which contributed to an 83% reduction in foreign tourists last year from the nearly 40 million arrivals in 2019.
Source: https://www.bangkokpost.com/business/2085815/thai-industries-sentiment-picks-up-as-virus-curbs-ease