Higher spending boosts recovery
Consumption up as lockdown loosened
The economy gradually recovered in February, mainly supported by higher private consumption and a slower spread of Covid-19.
The Bank of Thailand on Wednesday revealed private consumption shrank by 2.1% year-on-year in February, easing from a 4.5% contraction in the previous month.
On a monthly basis, domestic consumption grew by 3.4% from January, improving from a contraction of 3.6% in January.
Chayawadee Chai-Anant, senior director of the economic and policy department, said higher private consumption is largely thanks to improvement in all spending categories, especially for non-durable goods because of the relaxation of containment measures as the outbreak situation improved.
The government’s stimulus…
