Thailand’s economic confidence index for the month of September dropped for nine consecutive months to the lowest level in 16 months.
Associate Professor Thanawat Pholvichai, director economic and business forecast centre of the university, said Thursday that the economic confidence index for September to 72.1 which is the lowest in 16 months since June last year, according to the survey conducted by the University of Thai Chamber of Commerce.
He attributed the economic slowdown to declining confidence of the consumers as they were worried with the overall economic situation which has not recovered yet while exports continue to contract and new employment has slowed down.
Thanawat said that consumers were cautious in their spending while car and real estate sale has slowed down.However, he predicted that consumption might pick up in the fourth quarter after the injection of the government’s funding for economic stimulus package into the economic system.
Thailand relaxes COVID-19 measures to help revive economy
During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.
Thailand relaxed more virus related social curbs on September 1st, in dozens of cities including Bangkok, in a move that may indicate that the country’s economy, hit hard by COVID-19 will soon revive, lead by the export sector and sound financial fundamentals.(more…)
Southeast Asia to relinquish its lead over Latin America says Moody’s
While the emerging economies of Southeast Asia have outperformed their counterparts in Latin America for most of the past two decades, their lead will slide in the next few quarters as Southeast Asian governments clamp down to fight the pandemic’s lingering second and third waves.
The Delta surge is casting larger clouds over the global recovery and emerging markets are in the thick of it. Despite the ebbing of the coronavirus variant in India, where it first emerged, its spread in Southeast Asia, Africa, and the Middle East has steepened the road to recovery in these regions.(more…)
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