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Economics

Thai growth slips to 4-year low in Q1

Thailand’s GDP growth slowed sharply to 2.8% year-on-year in the first quarter of 2019 from 3.6% in the previous quarter

Boris Sullivan

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The National Economic and Social Development Council (NESDC) reported that GDP rose 2.8% year-on-year in the first quarter.

The first quarter outcome is down from a revised 3.6% in the fourth quarter of last year.

It was the slowest growing pace for Thailand’s economy in 17 quarters.

A weak first quarter combined with intensified downside growth risk leads us to cut our 2019 growth forecast to 3.1% from 3.8%.


We expect the Bank of Thailand to join its Asian counterparts in easing with a 25 basis point policy rate cut at the next meeting in June    

THINK Economic and Financial Analysis unit of ING

Thailand’s GDP growth slowed sharply to 2.8% year-on-year in the first quarter of 2019 from 3.6% in the previous quarter.

The MPC recently determined that the economy would expand at a slower pace than the committee’s forecast of 3.8%, largely due to weaker-than-expected merchandise exports and private investment.

Weak domestic demand dents growth

The Office of the National Economic and Social Development Board (NESDB) has indicated that the Thai economic growth in the first quarter was at a sluggish rate of 2.8 percent, prompting the office of revise down its 2019 Thai economic forecast to 3.3-3.8 percent from 3.5-4.5 percent.


Thailand’s GDP growth slowed sharply to 2.8% year-on-year in the first quarter of 2019 from 3.6% in the previous quarter.

A spike in the political risks surrounding the general election weighed on the domestic economy with nearly half of the slowdown in headline growth coming from private consumption and the rest from investments. 

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Economics

IMF and SCB lower Thai growth forecast under 3%

IMF and SCB have joined other banks and organisations to predict Thai economic growth under 3% for 2019.

Olivier Languepin

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Siam Commercial Bank’s (SCB) Economics Intelligence Center (EIC) has adjusted its Thailand 2019 economic growth projection from 3 percent down to 2.8 percent.

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Economics

Thailand drops to 40th in WEF Global Competitiveness Report

Thailand’s competitiveness ranking has dropped two spots from 38th to 40th in the World Economic Forum’s Global Competitiveness Index rankings for 2019

Olivier Languepin

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Thailand is the 40 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum.

(more…)

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Economics

Thai private sector cuts economic growth forecast to 2.7-3% from 2.9-3.3%

The Joint Standing Committee on Commerce, Industry and Banking has revised downward its forecast of Thailand’s economic growth this year to between 2.7 per cent and 3.0 per cent

Boris Sullivan

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The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) agreed today to lower down the economic growth projection (GDP) to 2.7-3% from 2.9-3.3% due to weakening economic growth during the first three quarters of the year.

(more…)

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