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Bank Of Thailand Says Economic Conditions Improving After Flood

3/30/2012 3:51 AM ET

The Bank of Thailand said Friday that economic conditions continued to improve in February backed by the ongoing recovery of the production sector after last quarter's devastating floods.

"Private consumption and investment surpassed pre-flood levels in tandem with acceleration in imports of consumer and capital goods and a steady improvement in the production sector," the central bank said in its monthly report.

Employment conditions improved while inflation remained relatively stable from the previous month, the report said.

The Private Consumption Index expanded 6.6 percent year-on-year in February. Domestic vehicle sales recovered sharply and fuel consumption also increased. Private Investment Index surged 8.8 percent annually as a rebound in business confidence led investors to resume their investment plans.

Meanwhile, the rate of decline in manufacturing output slowed further during the month. Manufacturing production fell 3.4 percent from a year earlier, much slower than the 15 percent slump in January.

by RTT Staff Writer

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