BANGKOK, March 29 (Xinhua) -- Thailand's economy continued to recover at a slow pace in February, thanks to an expansion in the service sector on the back of rising tourism revenue and inbound foreign tourists, the central bank said on Friday.
The Southeast Asian country's private investment and manufacturing production improved in some sectors last month, while private consumption remained stable as spending on services and non-durable goods was partially supported by government measures, according to the Bank of Thailand (BOT).
Merchandise export value, excluding gold, after seasonal adjustment declined in February from the previous month as shipments in several categories remained sluggish, owing to a subdued recovery in global demand, a high level of inventory, and the kingdom's structural factors, the BOT said in a statement.
Headline inflation turned negative by a smaller margin, mainly due to higher energy prices, while core inflation fell slightly as a result of last year's high base for prepared foods, the statement said.
Looking ahead, the tourism industry will remain a vital driver of the nation's economic activities. Meanwhile, the revival of exports and industrial production needs to be monitored, the BOT said. ■
