BANGKOK, March 31 (Xinhua) -- Thailand's economy softened in February on a monthly basis, mainly due to declines in tourism, manufacturing, and private investments, the central bank said on Monday.
The number of foreign arrivals and tourism receipts fell from a month earlier, owing to fewer visitors following a surge during the Chinese New Year festival, coupled with concerns over tourist safety.
This led to a decline in service activities related to tourism, particularly in the hotel and restaurant as well as passenger transportation, said the central bank's Senior Director Pranee Sutthasri.
Manufacturing-related service activities, such as trade and freight transportation, also dropped in tandem with lower consumer goods sales and manufacturing production, Pranee told a news conference.
Despite that, exports rose in several categories, especially in automotive, electronics, and precious metals. Private consumption also improved, while government spending continued to expand, Pranee said.
Looking ahead, she noted that the tourism and service sectors are expected to continue driving the Thai economy. However, structural factors, intense competition, and uncertainties in trade policies continue to pressure certain sectors, such as merchandise exports and industrial production. ■
