BANGKOK, 1 July 2014 – The Bank of Thailand (BOT) indicated the economy has made rapid gains in quarter 2 of this year and business confidence has clearly improved.
Don Nakhonthap, director of Macroeconomic Policy Office, Monetary Policy Department, Bank of Thailand, said quarter 2 economic growth is expected to expand more than the average quarter-to-quarter rate.
Even though the expansion would be a negative 0.4% when compared to the same quarter of the previous year, the recovery is considered substantial. He said there were improvements in industrial manufacturing, private sector spending, and exports; the latter was recoverying rather slowly, however. In the meantime, the business confidence index has improved to 48.6 as businessmen were less troubled by the political situation.
According to Mr. Don, positive results from the resolving of the political situation will be visible in June figures, and the Thai economy has been improving after reaching the nadir in April.
