# Economic and Monetary Conditions for November 2023 (BoT)

- Link: https://www.thailand-business-news.com/banking/119946-economic-and-monetary-conditions-for-november-of-2023-bot
- Published: 2023-12-29T11:16:55+07:00
- Author: SiamNews PR

In November 2023, the Thai economy showed signs of stabilization compared to the
previous month. Domestic demand saw an increase from both private consumption and
investment, while activities in the service sector remained relatively steady.

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Summary

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 * In November 2023, the Thai economy stabilized from the previous month. While 
   domestic demand increased from both private consumption and investment, activities
   in the service sector generally leveled off. In addition, both the value of merchandise
   exports, excluding gold, and production in the manufacturing sector declined,
   while public spending also contracted, mainly due to lower capital expenditures.
 * On the economic stability front, headline inflation declined from lower energy
   inflation thanks to the government’s subsidies on domestic benzene prices and
   lower global crude oil prices. Core inflation slightly decreased due to the high
   base last year. The labor market conditions remained stable, while the current
   account balance became deficit due to a deficit in both the trade balance and
   the net services, income and transfers.

**Source** : [https://www.bot.or.th/en/news-and-media/news/news-20231228.html](https://www.bot.or.th/en/news-and-media/news/news-20231228.html?rand=113190)