MTSI introduced in Thailand

BANGKOK, October 26 (TNA) - Thailand's private sector has introduced the Modern Trade Sentiment Index (MTSI), a new indicator of the national economic prospect. Surong Bulakul, Vice Chairman of the Thai Chamber of Commerce (TCC), told journalists of the update on October 26, saying that TCC has joined forces with the Board of Trade of Thailand (BTT), Bangkok-based University of the Thai Chamber of Commerce (UTCC) and Modern Trade Management Co., Ltd. in working out and introducing the MTSI in the country. Surong explained that the MTSI was set to be the outcome of updated surveys on opinions of modern trade operators in the Thai economy, whose retail and wholesale nationwide account for about 65 per cent of the country's total modern trade value. Surong stated that the Thai MTSI in the third quarter of this year stood at the 50.0 level on average, but the MTSI in revenues, profits and employment of modern trade operators stood at the 51.9, 64.9 and 79.7 levels respectively in the July-September period. The TCC vice chairman pointed out that, on the other hand, the Thai MTSI in business costs and inventories of the country's modern trade operators during the third quarter of this year dropped to the 13.0 and 40.8 levels respectively. According to the TCC vice chairman, the average Thai MTSI in the third quarter of this year reflected the gradual recovery, though mildly, of the country's trading prospect and the caution mode of modern trade operators regarding the national economic prospect. The TCC vice chairman said the recent survey found that most respondents in Thailand's central and eastern regions, where there are normally more purchasing power and spending by consumers, earned more revenues due to their increasing customers, while most respondents in the southern Thai region faced impacts from a drop in farm produce prices, especially natural rubber and oil palm, and the number of international visitors, resulting in a shrink in people's spending. The TCC vice chairman revealed that the recent survey found most respondents faced the problem of shortages of personnel, especially those who are keen in modern technologies and innovations, and impacts from a drop in the number of international tourist arrivals in Thailand. The TCC vice chairman suggested that the Thai government increase investment and tourism promotional measures, namely tax incentives and campaigns to attract more groups of international tourists, to boost the domestic investment and tourism during the rest of this year. Respondents of the recent MTSI survey included the Central Group, Robinson, Siam Makro, Big C, Tops Supermarket, Tesco Lotus, Tang Ngi Sun Superstore, CJ Express Group and CP All Convenience Store Company. (TNA)