BoT: New wave less of a hit
Consumption dip lower than in 2020
Thailand’s economic conditions last month were affected by the new round of Covid-19, with the pace of economic recovery becoming more uneven, though the impact was smaller than the first wave, says the Bank of Thailand.
Several economic indicators in January dropped compared with the corresponding period last year and the previous month, with private consumption stumbling to a 4.9% year-on-year decline from 2.9% growth in December, and a 1.5% increase in the fourth quarter, said Chayawadee Chai-Anant, senior director of the economic and policy department.
A decline in private consumption was attributed to the dip in all spending categories as a result of the deterioration in consumer confidence and household purchasing power. These were linked to…
