Consumption in Thailand fall “surprising”
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With tumbling oil prices expected to bolster private consumption, last month’s contraction in consumption came as a surprise, says a senior Bank of Thailand official.
The high level of household debt and falling farm prices were to blame, said Roong Mallikamas, senior director for macroeconomic and monetary policy. She said the fall in private consumption was unexpected and signified the slow pace of consumption recovery.
The private consumption index declined by 1.5 percent year-on-year last month, worse than December’s contraction of 0.8 percent.
Questions & Answers
Q.What factors did the Bank of Thailand official attribute the unexpected fall in consumption to?
What factors did the Bank of Thailand official attribute the unexpected fall in consumption to?
Roong Mallikamas, a senior director, stated that the high level of household debt and falling farm prices were responsible for the contraction in consumption. This made the decline in private consumption surprising to the Bank of Thailand.
Q.Who commented on the unexpected decline in private consumption in Thailand?
Who commented on the unexpected decline in private consumption in Thailand?
Roong Mallikamas, the senior director for macroeconomic and monetary policy at the Bank of Thailand, made the comments. She described the fall in private consumption as unexpected and indicative of a slow recovery pace.
Q.How much did the private consumption index fall by last month compared to the previous year?
How much did the private consumption index fall by last month compared to the previous year?
The private consumption index decreased by 1.5 percent year-on-year last month. This figure represents a worse contraction than the 0.8 percent decline recorded in December, according to the article.
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