The Regional Economic Sentiment Index for December 2021 has increased from the previous month in almost all regions, reflecting improved economic confidence for the future in agriculture, industry, and services, particularly in the southern, eastern, and northern regions.

Mr. Wutipong Jitthangskul, Economic Advisor at the Fiscal Policy Office, as Deputy Spokesperson for the Ministry of Finance, and Mr. Phisit Phuapan, Director of the Macroeconomic Policy Office, revealed the report on the Regional Economic Sentiment Index for December 2021. This report is based on data collected from economic surveys conducted in 76 provinces nationwide by the Provincial Treasury Offices, the Federation of Thai Industries, and the Thai Chamber of Commerce. The findings indicate that the Regional Economic Sentiment Index for December 2021 has increased from the previous month, reflecting improved economic confidence for the future in agriculture, industry, and services, especially in the southern, eastern, and northern regions.

The Southern Region's Economic Sentiment Index has risen from the previous month to 76.7, indicating improved future economic confidence, particularly in the industrial sector due to increased domestic and international orders as the COVID-19 situation improves. Additionally, there is growing confidence in the service sector due to a continuous increase in foreign tourists. The Eastern Region's Economic Sentiment Index stands at 72.1, reflecting an increase from the previous month, driven by higher confidence in the industrial sector as demand for industrial goods is expected to rise due to the improving COVID-19 situation, supported by favorable agricultural conditions for cultivation and the entry of key economic crops into the market, such as pineapples and cassava. The Northern Region's Economic Sentiment Index is at 72.0, showing improved future economic confidence, particularly in the industrial sector, as the improving COVID-19 situation boosts manufacturers' confidence in producing industrial goods.

Increased confidence in the service sector is attributed to policies welcoming foreign tourists, leading to a rise in tourist numbers and accommodation bookings. The Northeastern Region's Economic Sentiment Index is at 69.6, reflecting improved future economic confidence, particularly in the service sector due to initiatives like the 'We Travel Together' program and the 'Tour Thailand' project, which have increased tourist numbers. There is also heightened confidence in investment as entrepreneurs feel more secure about investing due to the improving COVID-19 situation. The Central Region's Economic Sentiment Index is at 67.9, indicating improved future economic confidence, particularly in the service sector due to an increase in domestic tourists from the 'We Travel Together' and 'Tour Thailand' programs, while the industrial sector's confidence has risen due to increased foreign orders. The Western Region's Economic Sentiment Index is at 67.2, reflecting improved future economic confidence, particularly in the service sector as the number of tourists increases, allowing service providers to return to normal operations, supported by the agricultural sector as the harvest season for key crops like sugarcane and rice begins. The Economic Sentiment Index for Bangkok and its vicinity is at 55.1, indicating improved future economic confidence, particularly in the industrial sector, as demand for industrial goods from trading partners is expected to rise, supported by anticipated increases in agricultural production in the area.

Summary Table of the Regional Economic Sentiment Index for 2021 (as of December 2021)


Macroeconomic Policy Office, Fiscal Policy Office, Tel. 0-2273-9020 ext. 3254

 

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