Thai industrial sentiment falls to lowest level in 3 years
Labourers work at a garment factory in Bangkok, Thailand, May 30, 2016. Picture taken May 30, 2016. REUTERS/Athit Perawongmetha/ File Photo
BANGKOK :Thailand's industrial sentiment index fell for a fifth straight month in July, hitting a three-year low due to worries about the impact of U.S. tariffs and the border conflict with Cambodia, the Federation of Thai Industries said on Tuesday.
The survey was conducted before the U.S. set tariffs on Thai imports at 19 per cent, which was in line with regional peers. However, the tariff rates on transshipments via Thailand from third countries remain uncertain.
The United States is Thailand's biggest export market and last year accounted for 18.3 per cent of total shipments, worth $55 billion.
The FTI said its industrial sentiment index dropped to 86.6 in July from 87.7 in June.
Other factors weighing on sentiment included flooding in the country's north and weakening purchasing power, the FTI said.
