Higher Spending Supports Economic Recovery in February

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By Paphamon Arayasukawat

   

BANGKOK (NNT) - The Bank of Thailand (BoT) has reported that the economy gradually recovered in February, mainly supported by higher private consumption and a slower spread of Covid-19.

 

BoT’s senior director of the economic and policy department Chayawadee Chai-Anant said higher private consumption is largely due to improvement in all spending categories, especially for non-durable goods because of the relaxation of containment measures as the outbreak situation improved.

 

She said in February, the traditional trade index picked up significantly, helped by the Blue Flag low-price vendors, increasing economic activities based on the government’s stimulus measures.

 

Ms. Chayawadee added that private investment indicators expanded 7% year-on-year in February, rising from 3.4% in the previous month. On a monthly basis, private investment edged up by 0.8% from January, which recorded a 0.6% contraction.

 

 

-- © Copyright NNT 2021-04-01

 

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