BANGKOK (Xinhua): Thailand's business sentiment held steady in November as falling confidence in the manufacturing sector offset a slight rise in non-manufacturing, data released by the central bank showed on Friday.
According to the Bank of Thailand (BOT), the South-East Asian country's business sentiment index (BSI) remained unchanged at 49.0 last month compared to October, as less concern about manufacturing costs countered a drop in confidence over employment, total order books, and performance.
The non-manufacturing index rose slightly in most businesses, driven by the real estate industry. Respondents' confidence increased in most elements, owing to regained low-rise housing demand and steady improvement in industrial estate development, the BOT said in a statement.
The manufacturing index fell, particularly in the automotive industry, because of tightening lending standards, resulting in reduced confidence across all aspects, according to the BOT.
The three-month expected BSI dropped to 52.6 last month from 53.3 in October due to plunges in most components, both in the manufacturing and non-manufacturing sectors.
However, the overall index and most sub-sector indices remained above the 50-threshold, indicating optimism going forward, the statement said.
The reading was based on a survey of 519 respondents from large and medium-sized firms, the central bank said. - Xinhua