April economic figures show promise

Thailand’s economic signals in April remained positive, with the automotive industry showing signs of improvement as new domestic passenger car registrations increased for the first time in 15 months.

- WICHIT CHANTANUSORNSIRI

According to Pornchai Thiraveja, director-general of the Fiscal Policy Office (FPO), the economy last month was supported by continued export growth for the 10th consecutive month and sustained private consumption expansion.

However, foreign visitor tourism slowed, while domestic tourism grew.

The FPO plans to monitor the economy and the policies of key trading partners, particularly the US and China, as they will significantly impact Thailand’s economy, he said.

New passenger car registrations grew by 2.6% year-on-year in April, compared with a contraction of 3.1% the previous month. For the first quarter this year, registrations shrank by 12.2% year-on-year.

Last year new passenger car registrations declined by 22.1% year-on-year.