ID :
202129
Thu, 08/18/2011 - 12:56
Auther :
Shortlink :
http://m.oananews.org//node/202129
The shortlink copeid
Growing domestic demand cushions TISI
BANGKOK, August 18 (TNA) - The Federation of Thai Industries (FTI) said on Thursday growing domestic demand has cushioned the Thai Industries Sentiment Index (TISI) to stand over its 100-point, showing that local industrial operators have remained sound confidence in the Thai economy, although the TISI slightly dropped last month.
FTI Chairman Payungsak Chartsutthiphol acknowledged that a latest survey found that the TISI in July 2011 stood at 105.2, lower from 107.4 in June, due to local industrial firms' concerns over their rising costs of production caused by higher prices of raw materials and the new Thai government's plan on an all-out daily minimum wage hike to 300 baht in all areas across the country.
Payungsak said that the local industrial operators appeared to be also worried over the strong Thai baht, heightening world oil prices and interest rates, as well as impacts from economic downturn in world major economies currently.
The FTI chief insisted, however, that as long as the TISI has maintained over its 100-point levels, it has reflected sound confidence in running businesses in the Thai economy among local industrial operators, boosted by growing domestic demand.
The FTI chief proposed that, to keep the TISI at its firm stand, the new Thai government, instead, raise the country's daily minimum wages phase by phase, urgently resolve the problems of skilled-labour shortages and rising costs of production; while expediting economic stabilization measures to sustain the national economic growth and development in the long run and speeding up national reconciliation. (TNA)
FTI Chairman Payungsak Chartsutthiphol acknowledged that a latest survey found that the TISI in July 2011 stood at 105.2, lower from 107.4 in June, due to local industrial firms' concerns over their rising costs of production caused by higher prices of raw materials and the new Thai government's plan on an all-out daily minimum wage hike to 300 baht in all areas across the country.
Payungsak said that the local industrial operators appeared to be also worried over the strong Thai baht, heightening world oil prices and interest rates, as well as impacts from economic downturn in world major economies currently.
The FTI chief insisted, however, that as long as the TISI has maintained over its 100-point levels, it has reflected sound confidence in running businesses in the Thai economy among local industrial operators, boosted by growing domestic demand.
The FTI chief proposed that, to keep the TISI at its firm stand, the new Thai government, instead, raise the country's daily minimum wages phase by phase, urgently resolve the problems of skilled-labour shortages and rising costs of production; while expediting economic stabilization measures to sustain the national economic growth and development in the long run and speeding up national reconciliation. (TNA)
