The Thai economy last month recorded growing private domestic consumption, especially for durable items, alongside support from export growth, according to Fiscal Policy Office adviser Wuttipong Jittungsakul.
He said the country still needs to keep a close watch on the impact of the ongoing pandemic and the Russia-Ukraine war.
Private consumption grew last month, reflected by the collection of value-added tax (VAT) increasing 27.7% year-on-year. The sale of passenger cars in February expanded 19.1% year-on-year, while motorcycle purchases rose 14.4%. However, the consumer confidence index dropped to 43.3 from 44.8 in January because of concerns about the pandemic and the war in Europe.
The sale of commercial vehicles in February, a reflection of private domestic investment, surged 29.8% year-on-year, while the sale of cement edged up 0.6%.
The February value of…
