August private consumption, investment rise

August private consumption, investment rise

Private consumption and private investment in August rose from the previous month, central bank indices showed on Friday, suggesting the economy is recovering at a faster pace.

The Bank of Thailand's private consumption index for August increased 0.6% from the previous month, when it had risen 0.7%.

The index for private investment edged up 0.1% in August from July, when it had increased 0.9%.

The central bank said there was a current account surplus of $4.66 billion in August from a $2.77-billion surplus in July.

Exports, based on financial settlements, jumped 15.8% in August year-on-year after July's 8% increase, the central bank said. A recovery in exports, traditionally a key growth driver, is a boost to the economy, whose growth still lags its regional peers.

The Bank of Thailand on Wednesday raised its 2017 economic growth forecast to 3.8% from 3.5%, with exports rising 8%. The economy expanded 3.2% last year.

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