BANGKOK, Oct. 15 (Xinhua) -- Thailand's industrial confidence improved for the first time in seven months in September, supported by the new government's economic stimulus and investment promotion measures, data showed on Wednesday.
The Thai industries sentiment index rose to 87.8 last month from 86.4 in August as most components of the index increased, according to the Federation of Thai Industries (FTI).
The reading was based on a survey of 1,348 entrepreneurs across 47 industry groups under the FTI.
The recovery was mainly attributed to the swift formation of Prime Minister Anutin Charnvirakul's administration, which helped restore confidence among the private sector, the FTI said in a statement.
Despite an ongoing expansion in agricultural and electronic product shipments, the baht's appreciation against regional currencies negatively impacted exporters' revenues and global market competitiveness, the statement said.
The index forecast for the next three months saw continued improvement, climbing to 91.8 in September from 88.9 a month earlier, driven by expectations of higher domestic and international demand during the upcoming year-end festive seasons.
The FTI called for government initiatives to promote locally made products through public procurement, as well as measures to reduce energy and electricity costs to boost the business sector's competitiveness. ■
