Northeast economy slows down
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Households in the Northeast tightened their belt following lower income and higher debt, said a senior officer of Bank of Thailand.
Pichit Patrawimolpon, senior director of the Northeastern Region Office, said that in the second quarter, the northeastern economy slowed down on a decline in both household spending and private investment. Private spending dropped as farmers' income declined, against higher debt.
He noted that construction activities outside mulnicipal areas slowed down, reflected through a drop in construction materials sale. However, activities in municipal areas picked up the pace, due to large-scale construction projects like the projects to build a Robinson department store in Sakhon Nakhon and condominium projects in Khon Kaen.
