BANGKOK, Oct. 1 (Xinhua) -- Thailand's business sentiment continued its downward trend in September, extending a fall that began early this year, the central bank said on Tuesday.
According to the Bank of Thailand, the Southeast Asian country's business sentiment index (BSI) was recorded at 45.7 last month, down from 47.1 in August, mainly due to a continued decline of confidence in the manufacturing sector.
While the initial downturn was primarily caused by weakened confidence in the non-manufacturing sectors, the more recent downturn has been largely contributed by deteriorating sentiment in the manufacturing industry, the central bank said in a statement.
The manufacturing index fell below the 50 threshold in the third quarter of 2024, reflecting a drop in confidence across most sectors, particularly the electronics industry, as weakening demand for integrated circuits resulted in reduced production and total order books.
Meanwhile, the non-manufacturing index remained relatively stable compared to the previous quarter, hovering below the 50-point mark, indicating an ongoing decline in confidence among most non-manufacturing businesses.
The three-month expected BSI rose to 51.6 in September from 49.8 a month earlier, mostly thanks to the non-manufacturing sector, despite the index still being in a downward trend since the beginning of the year.
The reading was based on a survey of 769 respondents from large and medium-sized firms. ■
