Connect with us
CGIF-10th-Year-Anniversary

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.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – Concerns linked to the new wave of COVID-19 infections has weighed on both daily life and business, resulting in the first drop in the Consumer Confidence Index 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.

Employment confidence dropped from 50 points to 47.5 and confidence in future revenue prospects retracted from 61.6 to 59.2. The downtrend was seen across the board in all regions of the country and in all instances was attributed to the new bout of COVID-19 infections.

President of the Economic and Business Forecasting Center of the University of the Thai Chamber of Commerce, Thanawat Polwichai surmised that if the situation persists for more than three months, the economy will grow in only a 0.9 to 2.8 range with a worst-case scenario being a contraction of 0.3 percent.

He said government economic stimulus is needed pointing to the co-pay scheme, while mentioning that if the situation improves in three months, recovery could be seen as soon as Quarter 2.

The president said a private sector suggestion to widen eligibility for the co-pay scheme and increase its cap from 3,500 to 5,000 baht per person would spur circulation, projecting the state needs to inject 200 to 300 billion baht into the economy to keep it afloat, or 400 to 600 billion baht to trigger growth.

He said further loans by the state are not yet needed, especially if economic stimulus can be pulled off soon as to trigger tax payments.

Information and Source
Reporter : Praphorn Praphornkul
Rewriter : Rodney McNeil
National News Bureau & Public Relations : http://thainews.prd.go.th

Comments

Economics

Thailand’s slow economic recovery

The speed of economic recovery in Thailand has been slower than neighbouring countries such as Malaysia, Vietnam and China, especially in terms of industrial and service output.

East Asia Forum

Published

on

Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic.

(more…)
Continue Reading

Economics

Thai Exports to grow 4% in 2021

Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year.

National News Bureau of Thailand

Published

on

iStock-1144933955.jpg

BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return to expansion mode, based on signs of economic recuperation globally and the distribution of a vaccine to protect people against COVID-19.

(more…)
Continue Reading

Economics

96% of Foreign Investors still confident in Thailand says BOI

The Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

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

Join 13,565 other subscribers

Trending