The Thai economy in June softened from the previous month, as merchandise exports and manufacturing production declined following earlier acceleration. Tourism-related activities also contracted, in line with the decrease in both the number and revenue of foreign tourist. Private consumption declined across most categories, facing pressure from the continued deterioration in consumer confidence. Nevertheless, government expenditure expanded, supported by increased disbursements from the central government and investment by state-owned enterprises. Private investment also grew, driven by increased spending on machinery and equipment.

On the economic stability front, headline inflation became less negative compared to the previous month, primarily due to higher fresh food prices, particularly vegetables. Energy inflation also moderated, reflecting an increase in domestic retail oil prices in line with crude oil prices. Core inflation remained stable, with lower prices for cooking ingredients and prepared foods offset by higher prices for ready-to-eat meals. The current account balance returned to a surplus, mainly driven by a narrower deficit in the services, income, and transfers balance. Whilelabor market conditions remained stable, the increasing proportion of unemployment benefit claimants relative to the total number of insured persons warrants close monitoring.

Press Release Documents and Full Report

1. Table Attached 1

2. Table Attached 2