Connect with us

Business

Political uncertainties send Business sentiment to 15-month low

The TCC Confidence Index figure in May 2019 is recorded at 47.7, which is the lowest in 15 months, with lower indication scores in all regions including Bangkok and neighbouring provinces.

National News Bureau of Thailand

Published

on

BANGKOK, 21 June 2019 (NNT) – Uncertainties regarding the forming of a new government and trade war concerns, have resulted in confidence among business operators in May 2019 continuing to decline, reaching a 15-month low, as shown in the latest TCC Confidence Index.

The figure is however, expected to improve in June once the new government proceeds with proposed megaprojects, injecting the economy with cash flow expected to help the Thai economy grow by 3.5 percent this year.

The University of the Thai Chambers of Commerce (UTCC) has released the May 2019 TCC Confidence Index, showing results from a survey of 370 Thai Chambers of Commerce members nationwide.

The TCC Confidence Index figure in May 2019 is recorded at 47.7, which is the lowest in 15 months, with lower indication scores in all regions including Bangkok and neighbouring provinces.

Consumption and investment performance has decelerated due to concerns regarding the forming of a new government, low farm product pricing affecting purchasing power, and the ongoing trade war between the U.S. and China affecting the Thai exports sector, the industrial sector, and trading sector.

UTCC’s Center for Economic and Business Forecasting Director Thanawat Ponvichai has described the Thai economy, especially local economies, as not robust, with farm product pricing becoming an issue in all regions, with only the tourism and service sectors in the eastern and northern regions performing above the median value of 50, indicating that the tourism industry is the key economic driver at the moment.

He said positive attributes can now be seen from improving farm product pricing in June, such as rice, palm oil, and rubber, while the establishment of the new government should lead to implementation of economic stimuli, especially disbursements of investment budgets, resulting in more hiring and procurement in various areas, as well as farm product price control measures, all of which are expected to help the Thai economy to grow by 3.8-4 percent in the latter half of 2019, pushing the annual growth this year to come in at 3.5 percent.l

Source link

Continue Reading
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Business

16 countries agree to conclude RCEP talks by end of this month

The final round of RCEP talks in Danang, Vietnam, is scheduled from September 19 to September 27 for senior officials to prepare various agenda pertaining to goods, services and investments

National News Bureau of Thailand

Published

on

BANGKOK, 9 September 2019(NNT)-The 51st ASEAN Economic Ministers Meeting has agreed that the final round of the Regional Comprehensive Economic Partnership (RCEP) talks in Vietnam should reach their conclusion by the end of this month.

(more…)
Continue Reading

Business

Thailand to Produce 2.5 Million Vehicles in 2030

Today there are about 15 million vehicles in Thailand and the Energy Ministry expects to see 1.2 million BEVs and plug-in hybrid electric vehicles within 2036.

Boris Sullivan

Published

on

The Thailand Automotive Institute expects the country will produce 2.5 million vehicles in 2030 and about 200,000 of them will be battery electric vehicles (BEVs).

(more…)
Continue Reading

Business

PTT to invest 30bn ($967M) baht in EEC

PTT Public Company Limited has allocated some 30 billion baht, to invest in newer forms of energy in the Eastern Economic Corridor (EEC)

National News Bureau of Thailand

Published

on

BANGKOK, (NNT) – The global economic slowdown and trade war have caused fluctuations in energy prices. In response, PTT Public Company Limited has allocated some 30 billion baht, to invest in newer forms of energy in the Eastern Economic Corridor (EEC), while the company’s profit in 2019’s first half was reduce by higher oil prices.

(more…)
Continue Reading

Most Read

Upcoming Events

Thu 19

ASEAN (Bangkok)Toys and Preschool Expo

September 19 @ 10:00 am - September 21 @ 7:00 pm BMT
Oct 10
Oct 16

GovInsider Live

October 16 - October 17

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 11,118 other subscribers

Trending