Thailand’s Industrial Confidence Index rises slightly in May

BANGKOK, June 23 (TNA) – Although business operators faced rising costs and their earnings declined in May, the nation’s Industrial Confidence Index edged up slightly to 78.5 from 76.3 in April, according to an industry executive.

Federation of Thai Industries (FTI) Chairman Santi Vilassakdanont said the minor improvement of the index was attributed to signs of economic recovery, both in Thailand and abroad, which helped pushed up purchase orders from abroad along with calm domestic politics in May.

Despite the rise, Thailand’s Industrial Confidence Index for May nonetheless still remained below 100, now for 38 consecutive months since April 2006, reflecting that operator confidence remained weak, he said.

A rise in oil prices in May posed a major problem for business operators, while worries in response to the world economic crisis lessened compared to previous months, which could be seen from the positive signs on Thailand’s exports. (TNA)