Indicators showed sustained economic growth in November, says Finance Ministry.
Economic growth appears to have continued through November, said Pornchai Theeravej, finance and economics advisor to the Fiscal Policy Office (FPO) on Thursday, pointing to several indicators.
Car sale increased for the 11th consecutive month, with November sales growing at 34.9 per cent year on year, and people in regional areas bought more cars and motorcycles, he said. Also, consumers were more confident of their future income, said Pornchai. The collection of the value-added tax increased 1.6 per cent, suggesting consumer spending continued.
Other positive indicators included an increase of 6.4 per cent in cement sales year on year, the highest growth rate this year. Also, the construction materials price index rose 3.6 per cent. Tourist arrivals rose 23.2 per cent. Exports rose 13.4 per cent in nine consecutive months of growth, while the import of capital goods went up 11.1 per cent.
These indicators suggest further increases in private investment. The office expects economic growth will meet its forecast of 3.8 per cent this year.
On the other hand, the real income of farmers contracted by 6 per cent year on year, according to the FPO monthly economic report.