August indicators show Thailand’s economy recovering

Farmers’ income increased for the second month in a row, by 9.2%, up from 3.8% in July. The consumer confidence index rose for the fourth consecutive month, to 51.

BANGKOK: Economic indicators for August show significant improvement from July but suggest the economy is still contracting, according to the Finance Ministry.

Releasing its monthly economic report on Monday, the ministry’s Fiscal Policy Office predicted the economic situation would get better in the third quarter after a sharp contraction of 12.2% in the second quarter.