Posted on 17 Nov 2011
The Thai Industries Sentiment Index (TISI) for October went down to 89.0, from 90.7 reported in September, Payungsak Chartsutthipol, chairman of the Federation of Thai Industries said on Thursday.
Mr Payungsak attributed the decline in industry confidence to a decrease in orders and total sales of manufacturers, a rise in production costs and the damage caused by the flood inundating many industrial estates.
The automobile, electrical appliances and electronic parts industries were severely affected because parts manufacturers were flooded.
The FTI chief said most manufacturers agreed the government needs to rapidly restore investor confidence by coming up with an effective flood prevention plan, delay implementation of the 300 baht daily minimum wage policy, quickly offer assistance for the flood affected manufacturers, and settle the labour shortage problem.
