The Regional Economic Confidence Index (RSI) for August 2019 indicates a stable outlook for the economy, with a recommendation to monitor the economic situation in the central region, particularly in agriculture. However, the northeastern and eastern regions continue to show growth driven by the industrial and service sectors.

             Mr. Pornchai Thirawet, Economic and Financial Advisor and Deputy Spokesperson for the Ministry of Finance, revealed the report on the Regional Economic Confidence Index for August 2019, stating, "The latest data from the provincial economic survey conducted by the Provincial Treasury Office in 76 provinces nationwide, the Federation of Thai Industries, and the Thai Chamber of Commerce shows that the Economic Confidence Index (forecasting the next 6 months) remains stable. The northeastern and eastern regions continue to expand due to support from the industrial and service sectors, while caution is advised regarding the economic situation in the central region, especially in agriculture."

The Economic Confidence Index for the Northeastern Region remains at a level of 67.8, with support expected from the service and industrial sectors in the next 6 months. This is due to the improved economic infrastructure, such as airports and more convenient transportation routes, leading to urban expansion. However, it is anticipated that some businesses may delay investments in several provinces, along with an increase in domestic tourists compensating for the slower growth of international tourists.

The Economic Confidence Index for the Eastern Region remains in a good range at 65.6, supported by positive trends in the industrial and service sectors due to government promotion and the establishment of industrial estates in the region. Although there has been continuous promotion of tourism, the onset of the rainy season may lead to a decrease in tourism in some eastern provinces.

The Economic Confidence Index for the Northern Region continues to show good growth at 63.8, supported by trends in the service sector and investment. The service sector is expected to grow as it enters the tourism season, but there are constraints due to the number of international tourists, as the strengthening Thai baht increases per capita expenses for tourists, affecting their travel decisions. For the investment sector, support is expected from measures to stimulate domestic consumption and tourism, but there are still risks as some investors are waiting to see government policies that will build confidence.

The Economic Confidence Index for the Southern Region remains good at 63.2, primarily supported by the service and investment sectors. The service sector is expected to see an increase in tourists as it enters the tourism season, while the investment sector is anticipated to improve due to increased investor confidence following the establishment of the government, along with supportive policies from the government across all sectors.

   

             However, there are still risks from the trade war between the United States and China, causing some provinces to experience a slowdown in investment. The Economic Confidence Index for the Western Region has slightly increased to 62.2, supported mainly by the service and agricultural sectors. The service sector is expected to grow from tourism, leading to increased employment. However, the policy of raising the minimum wage may also impact additional investments by businesses. The agricultural sector is expected to perform well due to the upcoming planting season and ongoing agricultural support policies from the Ministry of Agriculture and Cooperatives, but in the fishing sector, farmers are still waiting for government support.

For the Economic Confidence Index for Bangkok and its Vicinity, it has slightly increased to 61.1, primarily supported by the industrial and service sectors. The industrial sector benefits from government economic stimulus policies, but some provinces report a potential contraction in the industrial sector, such as Pathum Thani and Nonthaburi. The service sector is expected to grow from government tourism promotion policies, and overall, there is a trend of increasing growth. The Economic Confidence Index for the Central Region has slowed to 56.3, with caution advised regarding the agricultural situation, as it is expected that water availability for agriculture will be lower than last year, along with outbreaks of diseases and pests in some provinces.