Private consumption rose 1.9%, down from 3.3% in the first quarter, while consumer confidence fell to 50.3, its lowest reading in 14 quarters. Government consumption rose only 0.2%, against 3.4% previously, while public investment shrank 1.6% after growing 9.4% in the first quarter. Several major sectors also lost momentum. Manufacturing grew 0.1%, down from 1%, while agriculture, accommodation and food services each expanded 1.5%. Transport and storage rose 2.6%, and construction nearly stalled, growing 0.1% after a 6.2% increase in the previous quarter. These facts are telling a lot.. and no wonder with rising prices and no rising wages the public can spend less and less for decades already. The plaster of 40/60 scheme for 4 months is not helping, but there is a big need for reforms and updating outdated laws. Not the conservative, nationalism attitude which is pulling down Thailand already for several years. Reforms will also take a few years before you will see the results, but it is obvious that Thailand is going down further and further, The lowest performing country in Asean. The continue pushing of the people to spend to help the economy, will only bring more misery. Household are rising and will result in a financial crisis as on a day, nobody will be able to borrow money anymore and than the system collapses... There are not many households I know that have no debts.
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