BANGKOK, July 16 (Xinhua) -- Thailand's industrial confidence fell for a fourth straight month in June, driven by concerns over border tensions with Cambodia, U.S. trade measures, and geopolitical conflicts, data showed on Wednesday.
The Thai industries sentiment index dropped to 87.7 last month from 88.1 in May as most components of the index decreased, reaching its lowest level in nine months, according to the Federation of Thai Industries (FTI).
The reading was based on a survey of 1,342 entrepreneurs across 47 industry groups under the FTI.
Tightened border controls with neighboring Cambodia disrupting cross-border and transit trade, particularly the suspended import of gasoline and liquefied natural gas from Thailand, contributed to the decline in sentiment, the FTI said in a statement.
The doubling of U.S. tariffs on steel and aluminum products, which reduced the competitiveness of Thai businesses, as well as energy price fluctuations, slower exports, and fewer foreign tourist arrivals due to Israel-Iran conflicts, were also flagged as negative factors, the FTI said.
The index forecast for the next three months shrank to 90.8 in June from 91.7 a month earlier as entrepreneurs continued to worry about potential U.S. tariff increases, tensions along the border with Cambodia, and higher minimum wages in certain sectors, the FTI noted.
The group urged the government to prioritize disbursing an economic stimulus package and conducting trade negotiations to mitigate the impact of impending U.S. tariffs. ■
