BANGKOK, July 31 (Xinhua) -- Thailand's economy softened in June on a monthly basis, as exports and manufacturing declined amid a slowdown in tourism-related activities, the central bank said on Thursday.
According to the Bank of Thailand, exports, a key engine of the country's economic growth, dropped 4.8 percent in June compared to the previous month, particularly in technology and automotive products, after an earlier acceleration.
Industrial output saw a decline, led by reductions in automotive and food production, which corresponded to weaker car sales and subdued domestic demand, respectively, the central bank said in a statement.
The tourism sector weakened due to the falling number of foreign tourists from both short- and long-haul markets, as well as tourism receipts, said the central bank's Assistant Governor Chayawadee Chai-Anant.
Despite an overall decrease in the service sector activity, hotel and restaurant businesses expanded thanks to higher spending from domestic tourists, Chayawadee told a news conference.
Private consumption also fell slightly across most categories as consumer confidence continued to deteriorate amid concerns over U.S. trade policy, sluggish demand recovery, and high household debt, she said.
She noted that going forward, the Southeast Asian nation's economy is expected to slow down, resulting from the impact of global trade policies on exports and agricultural and industrial production, coupled with a projected downturn in inbound tourists. ■
