The economy is expected to begin recovery in the next three months as several economic indicators in May such as industrial production and consumer confidence indexes began to stabilize for first time in months, according to senior Bank of Thailand (BoT) official Amara Sriphayak.

He said business confidence index also improved to 45.4 in May from 39.2 a month earlier, pushed by an increase in consumer spending in the electronic appliance sector.

Mr. Amara projected that the business confidence would climb to 50.2 in the next three months, pushed by government’s stimulus measures and several large-scale government investment projects such as Bangkok’s elevated rail links, which will help inject more liquidity into the economic system.