Thai industrial confidence at five-month low as costs rise – Reuters

REUTERS/Athit PerawongmethaRegister now for FREE unrestricted access to Reuters.comRegisterBANGKOK, May 18 (Reuters) – Thailands industries belief index dropped to a five-month low in April, hit by higher production costs as Russias intrusion of Ukraine pushed up the rate of energy and raw products, an industries group stated on Wednesday.The Federation of Thai Industries (FTI) stated its markets sentiment index fell to 86.2 last month after a rise to 89.2 in March.” The dispute between Russia and Ukraine has impacted international trade and development, as well as the price of specific imported items,” FTI chairman, Kriengkrai Thiennukul, told a news conference.Register now for FREE limitless access to Reuters.comRegisterSentiment was also dented by declining domestic demand and home costs, he said.On Tuesday, the federal government approved cutting the excise tax on diesel to decrease high costs after a 30 baht per litre cap on diesel costs expires on May 20.
Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

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