BANGKOK, Mar 13 (NNN-TNA) – Thailand’s industrial confidence continued to improve in Feb, supported by the central bank’s policy rate cut and debt relief measures, data showed.
The Thai industries sentiment index rose to 93.4 last month, from 91.6 in Jan, as most components of the index increased, according to the Federation of Thai Industries (FTI).
The reading was based on a survey of 1,350 entrepreneurs across 47 industry groups under FTI.
The improved confidence was attributed to the lower key interest rate, which helped reduce financial costs and improve liquidity for entrepreneurs, as well as, stimulate consumption and investment, the FTI said in a statement.
Additionally, the government’s economic stimulus measures, such as, tax deduction and cash handout programmes, have helped boost domestic consumption. Accelerated budget disbursement, particularly for public construction projects, also had a positive impact on the sentiment, the statement said.
The index forecast for the next three months rose to 97.6 in Feb, from 96.2 a month earlier, driven by the new phase of the government’s flagship cash handout programme and upcoming tourism promotion events, the FTI said.
The group urged the government to support the implementation of a credit guarantee programme, to boost domestic vehicle sales.– NNN-TNA
