Thai manufacturers show lower confidence
Business sentiment of Thailand's manufacturers dropped in August due to a decline in domestic consumption and exports, said Payungsak Chartsutipol, chairman of the Federation of Thai Industries.
The weak baht has not helped in boosting exports, he said.
The FTI revealed on Tuesday that Thailand Industries Sentiment Index (TISI) fell to the 22-month low in August, as manufacturers fret about weak outlook. The index fell from 91.9 in July to 91.3. It has been below 100 for 14 consecutive months.
Payungsak added that manufacturers also face the increasing cost and they also fret about the global economic outlook following the conflict in Syria.
The expectation index for the next three months however improved from 97.2 in July to 98.1 in August, as overall orders increased along with output and earnings.
The manufacturers see the need that the baht moves in line with regional currencies and energy prices are maintained at reasonable levels. They also push for the investment of infrastructure schemes to boost the domestic economy. Other proposals involve the liquidity of SMEs and labour training.