Thai industrial confidence hits 11-month low in May
Confidence in Thailand’s industries hit an 11-month low in May, falling from 84.3 points in April to 82.3.
The Federation of Thai Industries (FTI) said the index had dropped for two consecutive months due to the Covid-19 outbreak, slow vaccine rollout and restrictions hitting demand, which had affected factory production.
FTI chairman Supan Mongkolsuthree said that businesses are facing higher costs and staff shortages at this time. Small and medium-sized enterprises (SMEs) are also facing problems with financial liquidity, while container numbers were still lower than export demand, he added.
The federation urged the government to distribute Covid-19 vaccine as quickly and widely as possible, while providing more financial assistance to SMEs.