BUSINESS

Economic indicators in April worsened from March, FOREX but strong export performance the only redeeming feature

Business, Bangkok bank, Published on 07/06/2021

» Private consumption dropped in April 2021 MoM because of the third wave of Covid-19 outbreak. The private consumption index (PCI) surged 8.7% YoY in April, following a 3.7% YoY gain in March. But this was large due to the low base from the 2020 lockdown. Meanwhile, it declined by 4.3% MoM in April as the impacts from the third wave weighed on economic activity. Furthermore, the consumer confidence index fell to 43 in May 2021 from 46 a month earlier, the lowest level since February 1999. This is consistent with the rapid increase of daily infection cases since the beginning of April.