BANGKOK (XINHUA) – Thailand’s industrial confidence improved for the first time in four months in July, thanks to an expansion in domestic demand and government spending, data showed on Friday.
The Thai Industries Sentiment Index jumped to 89.3 last month from 87.2 in June as most components of the index increased, except production costs, according to the Federation of Thai Industries (FTI).
The reading was based on a survey of 1,323 entrepreneurs from 46 industry groups under the FTI.
The uptick in confidence was attributed to the government’s efforts to promote tourism, including a visa exemption policy and initiatives to boost domestic tourism during the low season, the FTI said in a statement.
Despite that, elevated household debt and non-performing loans continued to strain domestic consumption, while the real estate and export sectors both experienced a slowdown.
