Thai industrial sentiment hits 8-month high in November on better tourism, exports
FILE PHOTO: Workers assemble EV cars inside BYD's first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player, in Rayong, Thailand, July 4, 2024. REUTERS/Chalinee Thirasupa/File Photo
BANGKOK : The Thai industrial sentiment index rose for a second consecutive month in November, reaching its highest level in eight months on stronger exports and tourism, the Federation of Thai Industries said on Wednesday.
The FTI's industrial sentiment index increased to 91.4 in November from 89.1 in October. Tourism and exports are key drivers of Thailand's growth.
Sentiment was also bolstered by year-end orders and government spending, it said in a statement.
Government economic measures are expected to support Southeast Asia's second-largest economy in the first quarter of 2025, it said.
However, another index of the federation that projects sentiment over the next three months dropped to 96.7 in November from 98.4 in the previous month, on concerns over U.S. trade policies, geopolitical issues and the Thai government's plan to raise the minimum wage to 400 baht ($11.70), the FTI said.
($1 = 34.22 baht)
