Home ›› 01 Jul 2022 ›› Asia Biz
Thailand’s economy improved in May and activity showed a further recovery in June, supported by increased spending, exports, and a pickup in tourism as pandemic restrictions eased, central bank officials said on Thursday.
Risk factors being monitored, however, included an increase in costs and prices, shortages of production parts and the pace of a recovery in the vital tourism sector, Bank of Thailand (BOT) Senior director Chayawadee Chai-Anant said.
Southeast Asia’s second-largest economy likely registered a clearer recovery in the second quarter as more foreign tourists returned, Chayawadee told a news conference. Inflation would remain elevated, but should peak in the third quarter of this year, she said. Senior director Sakkapop Panyanukul said headline inflation could hit 8 per cent in some months during the September quarter.