Thai Business Confidence Drops Again in April as Demand Slowdown

Thai business confidence dropped again in April, with sentiments turning into less positive in the food and beverage and manufacturing sectors as new orders and exports to major trading partners plummeted in response to a weakening global economy, the Bank of Thailand reported on Wednesday.

In April, the indicator of business confidence in Thailand slipped to 50.1 from a four-and-a-half-year high of 52.9 in March. Lower production confidence, financial performance, and new orders were cited as the main reasons for a drop in business mood last month, but the central bank also pointed out that April had fewer working days than March.

Taking into account seasonal factors, Thailand’s business confidence index climbed to 50.9 in April from 50.6 in March. While the three-month outlook for business sentiment increased to 56.1, with gains across the board.