Published on 30/07/2011
BoT: Thai auto industry getting stronger The Bank of Thailand (BoT) expected that the automotive industry, especially production and exports, would be expanding continuously while the national inflation rate would remain high. BoT Domestic Economy Department Senior Director Mathee Supapong stated that the country’s economic condition in June had been expanding thanks to growing domestic and foreign demands. He continued that car production and exports were also growing after the auto part shortage as a result of the Japanese disasters was solved. Nevertheless, Mr Mathee pointed out that the inflation rate was still high and would possibly be moving up further following the expected higher spending of the public sector in the future. Regarding an overall economic condition in the second quarter of this year, the senior director reported that private sector investment had slow down while the domestic production sector also dwindled in accordance with the smaller production volumes of car, hard disk drive as well as textile and garment. Inflation remained high in the quarter.