Chairman of the Federation of Thai Industries Supant Mongkolsutee announces on June 18 that the ICI increases to 90.2 in May, up from 89.1 in April. (Photo: NNT)

Bangkok (NNT/VNA) - Thailand’s industrial confidence index (ICI) continues to improve, thanks to on-going economic expansion driven mainly by the country’s manufacturing and export sectors.

Chairman of the Federation of Thai Industries Supant Mongkolsutee announced on June 18 that the ICI increased to 90.2 in May, up from 89.1 in April, due to the prevailing sentiment that the country’s continuous economic growth and economic recovery among major trading partners will benefit the manufacturing and export sectors.

Larger corporations have indicated plans to invest in machinery to increase productivity and enhance product development.

However, businesses also expressed concerns over rising oil prices, exchange rate risks, and trade barriers emerging between the United States and China. The three-month ICI fell slightly to 101.6, but Supant noted that a figure above 100 still reflects healthy industrial confidence.-VNA