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Thai June consumption down

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Thailand's private consumption slipped in June from the previous month but investment rose, central bank indexes showed on Friday, suggesting the economy is still struggling to expand at a time of weak exports and domestic demand.

[BANGKOK] Thailand's private consumption slipped in June from the previous month but investment rose, central bank indexes showed on Friday, suggesting the economy is still struggling to expand at a time of weak exports and domestic demand.

The Bank of Thailand's private consumption index for June fell 0.3 from May, during which it rose 1.1 per cent.

Its index for private investment increased 0.3 per cent in June after May's 0.4 per cent gain.

The BOT said exports, based on financial settlements, rose 1.9 per cent in June from a year earlier, helped by gold shipments, compared with May's 3.7 per cent decline.

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On Wednesday, customs-cleared data showed June exports slipped 0.1 percent from a year earlier.

The central bank has forecast that exports, which have fallen in each of the past three years, will shrink 2.5 per cent in 2016.

The central bank predicted there will be higher second-quarter GDP growth than January-March's 3.2 per cent on-year. Official April-June growth data is due on Aug 15.

It has projected 2016 full-year growth of 3.1 per cent, up from 2.8 per cent last year.

REUTERS

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