BANGKOK, June 23 (TNA) – The Thai Industries Sentiment Index (TISI) dropped for fifth month in a row in May and the lowest in the past one year, and the local sales and exports of automobiles also declined, according to a survey by Federation of Thai Industries (FTI).
TISI in May stood at 85.4 because consumers were cautious in spending while businessmen were concerned of slowdown in global economic recovery which had affected the country’s exports, FTI said.
It said the current severe drought pushed production costs to increase and proposed the government to encourage government-run agencies to use locally made goods in order to stimulate local economy and to lower tax of small- and medium-sized enterprises.
According to FTI, Thailand in May manufactured 135,000 cars, down 8.76 year-on-year due to sluggish global economy while sales of automobiles also declined 18.3 per cent year-on-year to 56,939 units. (TNA)
