BANGKOK, Sept. 1 (Xinhua) — Thailand’s business sentiment rose in August, primarily driven by the non-manufacturing sector, despite its downward trend since the beginning of the year, central bank data showed on Monday.
The Southeast Asian country’s business sentiment index was recorded at 47.5 last month, picking up from 45.8 in July, as all components, particularly performance and production, sharply improved.
The manufacturing index grew slightly, mainly due to the electronics sector, where respondents reported constant growth in performance and production sub-indices, matching strong exports of semiconductors and computer components.
Meanwhile, sentiment among other manufacturing businesses remained consistent with the previous month, except for the automotive industry, which experienced a significant drop in confidence, owing to unclear signs of recovery in car sales.
The non-manufacturing index edged up across most businesses, with major improvements in the performance and number of service subindices, led by the hotel and restaurant sectors, which saw a boost from European tourists during the summer holiday season.
The reading was based on a survey of 689 respondents from large and medium-sized firms.
