BANGKOK, Dec. 13 (Xinhua) -- Thailand's industrial confidence soared for the sixth straight month in November, boosted by recovering domestic demand and foreign tourist arrivals, data showed on Tuesday.
The Thai Industry Sentiment Index (TISI) edged up to 93.5 in November from 93.1 the previous month, according to the Federation of Thai Industries (FTI).
The Southeast Asian country reported last week over 10 million international visitors, a number that was predicted by the FTI to more than double next year.
FTI Chairman Kriengkrai Thiennukul highlighted other positive industry developments such as higher vehicle and electronic production due to improved semiconductor supply, and added that declining freight rates benefited exporters.
On the downside, the industry index is expected to drop within the next three months, due to concerns over increased production costs, particularly rising energy prices, Kriengkrai said.
As one of the main drivers of Thailand's economy, export was hit by weakening global demand, while appreciation of the Thai Baht lowered trade competitiveness, he said.
