Monthly Economic Report (April 2014)
“Indicators in April 2014 indicated that Thai economy showed continued slowing signs from last year, but improving signs from last month in both domestic and external demands. Manufacturing sector showed lower contraction. This was affected by economic and political uncertainty. Meanwhile, tourism sector showed improving signs since the Emergency decree was lifted”
Mr. Somchai Sujjapongse, Director-General of the Fiscal Policy Office, revealed that “Indicators in April 2014 indicated that Thai economy showed continued slowing signs from last year, but improving signs from last month in both domestic and external demands. Manufacturing sector showed lower contraction. This was affected by economic and political uncertainty. Meanwhile, tourism sector showed improving signs since the Emergency decree was lifted”.
Private consumption in April 2014 showed slowing sign from last year but remained stable from last month. This was reflected by real VAT collection which contracted by -1.2 percent per year, but expended by 1.1 percent from last month after seasonal adjustment (m-o-m SA). The passenger car sales in April 2014 also showed continued contraction of –34.4 percent per year, increasing by 14.3 percent from last month after seasonal adjustment (m-o-m SA).The motorcycle sales contracted by -21.5 percent from a year earlier, due to decreasing farmer income. Further, Consumer Confidence Index in April 2014 stood at 57.7 points, the lowest level in past 12 years.
Private investment in April 2014 also showed slowing signs from last year, but slight improving signs from last month for investment in construction sector. This was reflected by real estate tax collection also declined by -7.7 percent per year, but increasing by 5.5 percent from last month after seasonal adjustment (m-o-m SA). Moreover, cement sale in April 2014 which contracted by -3.1 percent per year, but increasing by 1.3 percent from last month after seasonal adjustment (m-o-m SA). Private investment indicators of machinery sector also showed slowing signs as reflected by decrease in commercial car sales by -32.3 percent per year, but expanding by 10.7 percent per year after seasonal adjustment (m-o-m SA). The import of capital goods in April 2014 declined by -16.9 percent per year. This was due to decreasing consumer’s confidence.
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