Bangkok: BoT reveals business confidence index for December 2023 stable at 49.1, for the next 3 months. increased from the production sector The overall index continues to stay above the 50 level, reflecting improved confidence.
The Bank of Thailand (BoT) revealed that the business confidence index for December 2023 was overall stable at 49.1, similar to the previous month. with confidence in orders, operating results, and production increasing while on the employment side and investment decreased As for confidence in the non-manufacturing sector, it improved from almost every business category. Led by the wholesale trade group, whose confidence increased in almost every component. and hotel and restaurant groups where confidence in operating results and services has greatly increased following the tourist season at the end of the year. Meanwhile, confidence in the manufacturing sector decreased along with steel production groups where domestic demand slowed. This is consistent with the construction group’s
confidence remaining at a low level. and the electrical appliances group where confidence decreased in every component. In particular, confidence in production has dropped significantly from trading partners’ inventory levels remaining high and global demand slowing down. However, confidence in other businesses in the manufacturing sector has slightly increased.
While in the next 3 months The overall confidence index rose to 53.9 from 52.6 last month due to increases in confidence in production, operating results and orders. The index of confidence in the manufacturing sector increased from almost every business category. Especially the chemical, petroleum, rubber, and plastic production groups where confidence increased from the performance side. and production is important Meanwhile, the confidence index in the non-manufacturing sector was stable due to a decrease in the confidence index in the hotel and restaurant sectors. according to the entry into the off-season and automotive retail groups Partly, fin
ancial institutions have become more stringent in granting car loans. However, confidence in the construction group has improved from the performance side. and production are important. The overall confidence index and almost every business category are still above the 50 level, reflecting confidence that Business conditions will have a better direction compared to the present.
However, the problem of high production costs remains the number one obstacle to business operations for the 28th consecutive month and the proportion is similar to the previous month. Meanwhile, demand concerns and intense competition from the domestic market are constraints that entrepreneurs are increasingly concerned about. For the expected inflation rate in the next 12 months decreased slightly to 2.8 percent from 2.9 percent in the previous month.-516
Source: Thai News Agency