BANGKOK, Nov. 29 (Xinhua) -- Thailand's economy improved in October compared to the previous month, thanks to a steady rise in tourism revenue and improvements in private consumption, manufacturing production and government spending, the central bank said on Friday.
The Southeast Asian country's foreign arrivals remained stable last month but tourism revenue grew due to a higher number of cumulative inbound tourists and a slightly higher spending per trip, according to the Bank of Thailand (BOT).
Private consumption picked up across all major categories, partially driven by the government's cash handout program. The manufacturing sector and merchandise exports, which observed higher shipments in the machinery and equipment category, also contributed to the recovery, the central bank said in a statement.
Looking ahead, economic activities continue to be driven by the tourism and service sectors, while exports and industrial output are gradually recovering, said BOT Assistant Governor Chayawadee Chai-Anant.
However, some industries are still under pressure from structural challenges and increased competition, resulting in fragile business revenue and household income in certain segments, Chayawadee told a news conference. ■