Thailand's economic growth weighs on rising Covid-19 outbreak

Bangkok: Thailand's central bank said the country's economy in June continued to be impacted by the latest Covid-19 outbreak, deemed the most deadliest since the onset of the pandemic early last year. According to the statement, the Thailand's headline inflation in June declined from May as the low base effect from energy prices gradually abated while core inflation was stable. In June, the country's private consumption remained weak, while the tourism sector is yet to recover, but exports, which jumped 46.1 per cent year-on-year, had supported the economy along with public spending, the Bank of Thailand said in a statement on Friday.

The Thailand central bank said manufacturing production declined slightly from the previous month as production in automotive, petroleum, and construction materials dropped in line with the weak domestic demand. The labour market remained vulnerable because of the third wave of the outbreak that started in early April.  The global shortages of shipping containers and semi-conductors also weighed on production, especially in the food processing, electrical appliances, and automotive sectors, it said. The manufacturing production index, a gauge of manufacturing activity, fell to 17.6 in June from 25.7 in May, according to the central bank.

Thailand On Friday, the country reported 17,345 new cases and 117 additional fatalities, raising the total number of infections to 578,375 and the cumulative fatalities to 4,679.

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