BANGKOK — Thailand's industrial sentiment index rose for the first time in four months in July due to higher domestic demand, budget spending and tourism, the Federation of Thai Industries (FTI) said on Friday.

The FTI said its industrial sentiment index increased to 89.3 in July from 87.2 in June.

However, business operators were concerned about global economic uncertainty and the domestic political situation, the group said in a statement.

Paetongtarn Shinawatra was nominated to become Thailand's prime minister in a parliamentary vote on Friday by the Pheu Thai party.

The vote comes days after a court verdict dismissed former prime minister Srettha Thavisin from office.

Political turbulence is threatening the struggling economy which grew just 1.5 percent in the first quarter of 2024 from a year earlier, lagging regional peers.

The economy has been underpinned by the tourism sector, which saw 21.8 million foreign tourists from the start of 2024 to August 11, up 33 percent from a year earlier, tourism ministry data shows.

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