The Thai economy is on the path to recovery after several economic indicators in July showed positive signs, according to the Fiscal Policy Office (FPO).

Positive signs included increased consumption and investment in the private sector and improving confidence among consumers and industrialists, FPO deputy director Ekniti Nitithanprapas was quoted by PBS TV bulletin as saying.

Rising consumption in the private sector was reflected by the value-added tax collection which rose by 3.6 percent year-on-year while the consumer confidence index increased for three months in a row to 68.5 and was at a new 11-month high, he said.

Spending in the government sector also rose in July when government organisations disbursed 200.2 billion THB to spur economy.
The budget disbursement was up by 17 percent year-on-year compared with a decline of 1.1 percent in June. Meanwhile imports of capital goods went up by 5.5 percent year-on-year.

Thai export value, excluding gold products, also rose by 0.8 percent to 18.9 billion USD in July, a decline of 0.9 percent over the same period last year.

The United States , the European Union, Japan , Cambodia , Laos , Myanmar and Vietnam remained major export markets for Thai electronic products, automobiles and farm produce, according to the Thai media.-VNA