Scene at the event (Source: NNT)

Bangkok (NNT/VNA) - The Federation of Thai Industries (FTI) has reported that the industrial confidence index (ICI) of Thailand has hit a new high, thanks mainly to the government's stimulus measures.

FTI Chairman Chen Namchaisiri disclosed on December 21 that the November ICI hit an eight-month high, climbing to 87 from 85.9 the previous month. The outcome was attributed to the issuance of state welfare cards, the Shop for Nation tax measure, and sales promotions by retailers.

However, the ICI for the last three months fallen to 102 from 103.3 as the private sector concerns about a price slump in agricultural commodities, a hike in gas prices, volatile currency exchange rates, and trade policies of Thailand's commercial partners. The FTI Chairman said that industrial confidence remains positive, as the index is still above the 100-point mark.

Vehicle production in November rose for a third straight month to 193,000 units, an 11.48 percent rise year-on-year and a new 20-month high. Production over the past 11 months of the year totaled 1.83 million vehicles. Next year’s production is estimated at 1.97 million vehicles.-VNA