SMEs' confidence in Thailand picking up

BANGKOK, February 5 (TNA) - The confidence of small and medium-sized enterprises (SMEs) in the Thai economy has been picking up since the last quarter of 2015, thanks to active domestic consumption in the period and the government's economic stimulus measures. Bencharong Suwannakhiri, Senior Director of TMB Analytics, told journalists on February 4 that a recent survey on 1,276 SMEs nationwide in the last quarter found the SMEs confidence rose by 18.4 per cent, or from the 34.2 level in the third quarter to the 40.5 level in the fourth quarter. Bencharong attributed the increased SMEs confidence to the Thai government's economic stimulus measures and increased spending due to long holidays, festivals and the high tourism season, especially in the Thai North and the western coast of the Thai South. The senior TMB Bank executive revealed that the survey also found the SMEs confidence in the Thai economy in the next three months rose by 7.15 per cent, from the 53.1 level to the 56.9 level, explaining that the SMEs confidence index above 50 shows that most local business operators are confident in business outlook in the country in the first quarter of this year, as positive prospects, official economic stimulus measures in the last quarter of 2015 and growing domestic tourism should continue to take effect in the first half of this year. The senior TMB Bank executive pointed out, however, that 60.9 per cent of respondents remained concerned over the domestic economy and weaker purchasing power although the Thai economy was recovering late last year and the percentage of worried SMEs dropped from 63.9 per cent in the third quarter of 2015. (TNA)