Trade war dampens industrial confidence in July. The Federation of Thai Industries urges the government to expedite budget disbursement for 2019 and implement measures to support the grassroots economy and assist SMEs in driving sustainable economic stimulus.

          On July 22, 2019, Mr. Suphan Mongkolsuthee, President of the Federation of Thai Industries (FTI), revealed that the industrial confidence index for July 2019 stood at 93.5, a decrease from 94.5 in June. This decline was attributed to a drop in overall orders, total sales, production volume, operational costs, and business performance.
          "The decrease in the industrial confidence index from the previous month has impacted the confidence of entrepreneurs in July 2019, primarily due to sluggish exports resulting from the ongoing trade war. This is reflected in the decline of orders and sales from abroad compared to the previous month, as well as the drought affecting purchasing power and domestic consumption. Meanwhile, the government has yet to implement any economic stimulus measures. Additionally, entrepreneurs remain concerned about the increase in the minimum wage, especially for SMEs that face higher costs.

          The index for the next three months is expected to rise to 102.3, up from 101.3 in June, as entrepreneurs anticipate that the government will take urgent measures to stimulate the economy, encouraging spending and consumption domestically, along with expediting budget disbursement for the remainder of the 2019 fiscal year. Furthermore, entrepreneurs expect an increase in foreign orders for delivery at the end of the year. 

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