BoT optimistic regarding growth as tourism recovers

The Bank of Thailand expects the economy to have a better growth rate in the third quarter than the second after expansion missed the central bank’s target for the previous quarter.

In the third quarter, the Thai economy continued to expand from the previous quarter, driven by private consumption and a recovery in the service sector, improving in line with increasing numbers of domestic and foreign tourists, said Chayawadee Chai-anant, assistant governor for the corporate relations group at the central bank.

Merchandise exports excluding gold gained slightly in the third quarter this year thanks to automobile and petroleum shipments, which were consistent with activities in the manufacturing sector, she said.

Other categories that posted gains included jewellery, agricultural products, and agro-manufacturing products.

However, private investment…