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Thai consumption, investment dip but hopes high

Published on Jan 31, 2013 7:10 PM

BANGKOK (REUTERS) - Private investment and consumption in Thailand slipped in December from November after strong growth in previous months, but economic fundamentals remained sound and confidence was growing among consumers and companies, the central bank said.

Investment fell 0.8 per cent in December from November, but the central bank said that was because investment in machinery and equipment had been so heavy in previous months when industry was re-equipping after severe flooding hit the country late in 2011.

Reflecting the disruption in December 2011, investment was 28.2 per cent higher than a year earlier.

Thursday's data also showed that consumption dropped 2.9 per cent in December from November, in line with a decline in imports of consumer goods and car purchases, it said.

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