IMF and SCB have joined other banks and organisations to predict Thai economic growth under 3% for 2019.
Agricultural sector contracted by drought effect while industrial sector’s deteriorated following the export-related production.
EIC has revised down the forecast for Thailand’s GDP growth in 2019 to 3.3%, from the previous projection of 3.6%.
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
Thailand’s consumer confidence index (CCI) for the month of April sank to its lowest level in 16 months, dragged down by mostly by political uncertainty
Growth in developing East Asia and the Pacific (EAP) is projected to soften, while growth rate in Thailand is expected to be slightly lower in 2019
The SCB’s Economic Intelligence Center (EIC) has reduced its growth projection for the Thai economy this year to 3.6%
Overall economic activity in the first quarter of 2018 continued to expand from the previous quarter, driven mainly by exports and tourism sector.