Thai January Industrial Confidence Rises for Second Straight Month

Industrial confidence in Thailand improved in January for a second straight month, as factories partially resumed operations, and domestic demand and sales increased, after flood waters receded.

Despite the improved sentiment, a general mood of pessimism still prevailed over the country's economic prospects. The Thai Industries Sentiment Index stood at 99.6 points in January, up from 93.7 in December, the Federation of Thai Industries said in a statement Wednesday.

An indicator below 100 shows that survey participants are still pessimistic over the economy's growth prospects ahead. The federation surveyed 1,027 respondents from 42 industrial groups.

Floods during late October to November had inundated seven major industrial estates in the central provinces, disrupting the operations of car makers and electronics manufacturers.