Industrial sentiment in Thailand rose to its highest level in 4 years in February, as the manufacturing sector continued to see a steady recovery helped by a rebound in domestic consumption and tourism after China’s reopening, the Federation of Thai Industries (FTI) reported on Wednesday.
The industrial sentiment index rose slightly to 96.2 in February from 93.9 in the previous month, reaching a 47-month high, showing that optimism was widespread among various sectors of society.
According to the industrial group, respondents mentioned the gradual recovery of the manufacturing sector, domestic demand, and tourism, as well as the government’s new stimulus measures, as the chief factors for their optimistic outlook. The falling gas prices is also considered as a positive sign.
However, FTI chairman Kriengkrai Thiennukul said in a statement that industries were still concerned about weak demand in trading partner nations amid a sluggish economy and escalated inflation in major countries.