Economics
Coronavirus will hurt spending in China, with spillover to global companies
Coronavirus will hurt spending in China, with spillover to global companies, says Moody’s Macroeconomics – Global update.

On Wednesday, the World Health Organization said that China’s coronavirus has infected nearly 6,000 people domestically so far, with an additional 68 confirmed cases in 15 other countries.
The primary impact is on human health. However, the risk of contagion is affecting economic activity and financial markets. The immediate and most significant economic impact is in China (A1 stable) but will reverberate globally, given the importance of China in global growth as well as in global company revenue.
By sector, the coronavirus will likely have the largest negative impact on goods and services sectors within and outside of China that rely on Chinese consumers and intermediary products.
China’s annual GDP growth forecast unchanged so far, but composition could shift
In our baseline, we expect the outbreak to have a temporary impact on China’s economy and for annual GDP growth in China to remain in line with our forecast of 5.8% in 2020.
However, the composition of growth will likely shift because of a dampening of consumption in the first quarter, potentially offset by stimulus measures.
Nonetheless, there is still a high level of uncertainty around the length and intensity of the outbreak, and we will review our forecasts as conditions evolve.
Excerpt from “Moody’s Sector Comment“, 30 January 2020 issue.
Economics
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
The World Bank is now expecting the Thai economy to see 4% growth this year, and a 4.7% growth in 2022, despite current challenges from the new wave of COVID-19 infections.

The World Bank now expects that the Thai economy to expand by 4 per cent in 2021, according to the latest World Bank Thailand Economic Monitor report “Restoring Incomes, Recovering Jobs” released on Wednesday (Jan 20).
(more…)Banking
BoT sees mild impact of new COVID-19 wave on the economy
The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.
(more…)Economics
COVID-19 brings first consumer confidence drop in 3 months
Consumer confidence in December 2020 was measured at 50.1 points, down from 52.4 the previous month. Economic confidence was also down to 43.5 from 45.6 points.
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