World Economy

Thai Growth Remains Weak

Thai Growth Remains WeakThai Growth Remains Weak

Thailand’s economic condition remained weak in July, with most key indicators registering declines due to weak external and domestic demand, Dow Jones reported. The Bank of Thailand reported Monday that the private consumption index dropped 2.1% from a year earlier in July, widening from a revised 0.1% on-year slip in June. On a monthly basis, Thailand’s July PCI also fell 1.1% from June. The index’s further decline “reflected consumers’ cautious spending as farm income contracted further on the back of lower farm output and prices and non-farm households’ income remained flat on top of their concern over the economic recovery and development on the drought situation,” according to the central bank’s statement.