This confidence has been evidenced by an increase in orders, sales and production for both local and export markets.
Government stimulus packages to ease the burden of the outbreak and increase consumption has contributed to economic recovery and a boost in manufacturing confidence.
Foreign buyers have been placing orders for many products including food and medical equipment, while sales of products like clothes, shoes, leatherwear, ceramics and home appliances has been rising during the New Year holidays.
The economic outlook, however, is still uncertain because manufacturers are still worried about a second wave of infections in many countries.
They are also concerned about the rising baht, which could make Thai products less competitive globally, as well as the shortage of shipping containers, which could result in higher costs.
A survey of 1,258 manufacturers in 45 industries showed that 70.5 per cent were worried about the state of global economy, 46.1 per cent were concerned about baht appreciation, 41 per cent were worried about oil prices and 40.5 were concerned about the cost of interest.
The three-month sentiment index, meanwhile, has risen to 94.1 points from 91.9 in October thanks to government stimulus, public spending and availability of the Covid-19 vaccine.
Manufacturers, meanwhile, want the government to continue implementing stimulus packages, and are calling on the central bank to ensure the baht moves in line with regional currencies.
They also want the government to ensure the supply of shipping containers by providing incentives for their import. They also want the authorities to maintain high standards in containing the virus, he added.
Published : December 17, 2020
By : The Nation