Deputy Finance Minister Santitarn Sathirathai says the old industrial indicators, such as capacity utilisation (57.47% in Q2 2026, the lowest since Q2 2021), no longer fully capture Thailand's shift to new industries. Factory output grew only 0.1% in Q2. Government forecasts Q3 to improve gradually and full-year GDP growth to stay at 2.5%, with tourism expected to recover in H2. For SMEs, the signal is continued weak factory demand and soft domestic spending into Q3, so keep cash buffers tight. Watch the energy-transition loans he expects to flow in Q4, and the planned BOI shift toward local supply-chain linkages, which may matter if you supply factories.