Thailand's industrial confidence index picks up

BANGKOK, February 15 (TNA) - The Thai Industrial Sentiment Index (TISI) in January 2012 reflects the steady recovery of Thai industries. Payungsak Chartsutthipol, Chairman of the Federation of Thai Industries or FTI, reported on Wednesday that the TISI, covering 42 local industries, stood at 99.6 this month, up from 93.7 in December 2011,due to increased purchase orders, sales and production, reflecting more confidence in the Thai economy among industrialists. Payungsak said although the TISI did not reach 100, it increased for the second consecutive month, after Thailand's massive flooding late last year, showing that the national economy has been returning to normal, as factories in flooded-affected industrial sites have partly resumed their production. The FTI chief acknowledged, however, that Thailand's future expansion of production will likely depend on the government's economic stimulus and flood prevention measures, and that biggest concern of local business operators appears to be oil prices, followed by the global economic situation, domestic political situation, lending interest and foreign exchange rates. According to the FTI chief, most local business operators want the Thai government to postpone its new minimum daily wage hike to 300 baht and to work out clear plans to cope with, probably, repeated floods and other kinds of natural disasters. (TNA)