The report on the Regional Economic Future Confidence Index (RSI) for September 2019, based on the latest economic condition survey data from provincial treasury offices across 76 provinces, the Federation of Thai Industries, and the Thai Chamber of Commerce, reveals that the Regional Economic Future Confidence Index (forecasting the next 6 months) indicates a trend of economic expansion, particularly in the northeastern and southern regions, supported by the industrial and service sectors. However, attention should be paid to the agricultural situation in the central region.


 

  • Northeastern Region stands at 72.1, reflecting increased confidence in the future economy. In the next 6 months, the main supporting factors will come from the industrial and service sectors, as the government continues to implement economic stimulus measures and the number of foreign tourists is on the rise. However, some provinces anticipate that exports may not recover from the trade war.
  • Southern Region is at 67.4, indicating expectations for economic growth, particularly in the industrial and service sectors. This is due to anticipated government policies that will support production and investment in the industrial sector, along with the onset of the tourist season, leading to an increase in tourists. Nonetheless, some provinces remain concerned about the potential escalation of the trade war between the United States and China.
  • Eastern Region remains in a good position at 65.3, indicating increased confidence in the future economy, supported by trends in the industrial and service sectors. It is expected that the economy in the second half of the year will improve due to government policies aimed at stimulating the economy, including the acceleration of the EEC project, along with tourism promotion initiatives, with the "Chim Shop Use" project expected to have a significant positive impact on tourism.
  • Northern Region has risen to 65.2, reflecting increased confidence in the future economy, primarily supported by the service sector and employment. The service sector benefits from ongoing government support for tourism, while employment in agriculture and industry remains stable. Employment in the service sector is expanding, particularly in health services and retail and wholesale businesses, due to economic stimulus measures and government support for tourism, which will lead to increased job opportunities.
  • Western Region stands at 60.8, indicating increased confidence in the future economy, with support mainly from the agricultural and service sectors. It is expected that the service sector will expand with the onset of the tourist season, while the agricultural sector is anticipated to grow due to increased production of rice, cassava, pigs, raw milk, and white shrimp compared to the same period last year, driven by market demand and continuous consumption, along with government policies promoting and supporting agriculture.
  • Bangkok and Surrounding Areas are in a good position at 60.5, indicating expectations for economic expansion, primarily supported by the industrial and service sectors, reflecting increased confidence in economic growth. However, some provinces still anticipate a contraction in the service sector.
  • Central Region has increased to 58.9, but attention should be paid to the agricultural situation, as it is expected that water availability for agriculture will be lower than last year.