BANGKOK: Thailand’s private consumption and private investment in August rose from the previous month, central bank indexes showed on Friday, suggesting the economy is recovering at a faster pace.
The Bank of Thailand’s (BOT) private consumption index for August increased 0.6 percent from the previous month, when it had risen 0.7 percent. The index for private investment edged up 0.1 percent in August from July, when it had increased 0.9 percent.
The BOT said there was a current account surplus of $4.66 in August from a $2.77 billion surplus in July. Exports, based on financial settlements, jumped 15.8 percent in August year-on-year after July’s 8.0 percent increase, the central bank said. A recovery in exports, traditionally a key growth driver, is a boost to Southeast Asia’s second-largest economy, whose growth still lags its regional peers. The Bank of Thailand on Wednesday raised its 2017 economic growth forecast to 3.8 percent from 3.5 percent, with exports rising 8 percent. The economy expanded 3.2 percent last year.
