Consumer’s confidence Index (CCI) for the month of January increased to 80.0 from 79.2 a month earlier, representing the highest for the past 36 months.
Mr Thanawat Pholvichai, director of the economic and business forecast centre of University of Chamber of Commerce, said Monday that CCI increased steadily for the last six months to 80.0 in January – the highest for the past 36 months.
He attributed the steady rise of CCI to anticipation that the GDP for this year would be 4.2 percent and exports to grow by about 5 percent,with tourist arrivals for this year estimated at 37 million.
However, Mr Thanawat warned about the negative factors from cost of living and baht appreciation which could hinder export growth.
Driven by tourism and export growth, Thai economy for the month of December continued to expand from a month earlier, said Mr Don Nakorntap, senior director of macro-economics of the Bank of Thailand, said on Wednesday.
For the month of December, he said that export grew 9.3 percent while the number of incoming tourists for the same month increased 15.5 percent from November’s figure, especially tourists from China and Malaysia whereas more tourists from Russia were also reported.
Mr Don said export and tourism would be the key players to further drive the economy this year which is in line with the trend of economic recovery abroad.
However, he added that the role of the two players would decline somewhat this year and replaced by domestic consumption which is expected to pick up while government spending
Aging society and skill shortage key issues in Thailand’s economy
According to Moody’s latest Research Announcement, Thailand will sustain fiscal and external strength regardless of political developments; but structural challenges persist.
Thai vehicle production shrinks 6.11% YoY in May
Thai vehicle production in May 2019 was 181,338 units, which is 6.11 percent lower than the previous year due to declines in both domestic and international markets.
BANGKOK, 14 June 2019 (NNT) – The Thai vehicle production yield in May 2019 was lower by 6.11 percent year-on-year due to implications from both domestic and international markets, says Federation of Thai Industries.(more…)
EIC cuts 2019’s growth forecast to 3.3%.
EIC has revised down the forecast for Thailand’s GDP growth in 2019 to 3.3%, from the previous projection of 3.6%.
|The Office of the National Economic and Social Development Council (NESDC) reported that Thailand’s GDP expanded by 2.8%YOY (compared to the same period last year), or 1.0%QOQ_sa (seasonally adjusted compared the previous quarter) in Q1/2019.|
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