Thai Industrial Sentiment Index Increases

BANGKOK (Reuters) – The Thai industrial sentiment index rose for a second consecutive month in November, reaching its highest level in eight months at 91.4, up from 89.1 in October. This increase is attributed to stronger exports and tourism, as noted by the Federation of Thai Industries (FTI).

Key Drivers of Growth

Tourism and exports are crucial to Thailand's growth, and sentiment was further boosted by year-end orders and government spending, according to FTI's statement.

Future Economic Support

Government economic measures are anticipated to continue supporting Southeast Asia's second-largest economy in the first quarter of 2025.

Concerns Over Future Sentiment

However, a different index from the FTI, which projects sentiment for the next three months, fell to 96.7 in November from 98.4 the previous month. Concerns contributing to this drop include U.S. trade policies, geopolitical issues, and the Thai government's plan to increase the minimum wage to 400 baht ($11.70).

($1 = 34.22 baht)