Thailand's industrial confidence index dropped from 95.5 in Febuary to 93.5 in March mainly due to the swift appreciation of Thai baht, the Federation of Thai Industries (FTI) chairman said on Thursday.

Payungsak Chatsuthipol, chairman of the Federation of Thai Industries (FTI), said Industry confidence was down for the third straight month, the FTI chief said.

He attributed the drop in the industry confidence to declining overall orders, sales volume, output, rising cost of production and manufacturers' concerns over the slow global economic recovery.

The baht's appreciation and high cost of energy were also the factors in keeping the confidence of manufacturers below the 100 level, showing low confidence overall in the industry sector, he added. Endit

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