Promising signs from July economic indicators

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BANGKOK, 29 August 2013 Economic indicators in July 2013 have signaled improvements in the Thai economy despite an overall slowdown. 

Deputy Director of the Fiscal Policy Office Ekniti Nitithanprapas reported the country’s economic and fiscal conditions in July 2013, saying exports grew by -1.5%, decreasing from the same period last year but higher than the previous month by 0.8%. In terms of consumption in the private sector, July’s revenue from the fixed rate VAT dropped 1.9% compared to the same period last year but the consumption-based VAT expanded by 5.5%, Mr Ekniti said.

Commodity imports in July increased to 9.0% and investment in the construction segment jumped to 29.9%. Investment in machinery and equipment in the private sector decreased by 3.6% year-on-year but expanded by 8.7% compared to the previous month.