Economics
Consumer confidence up in June, but still lowest in 21 years
Overall confidence in the economy, job prospects and revenue was also up compared to June, with only confidence in politics continuing a downward trend for the 17th month.
BANGKOK (NNT) – Aid measures, and the fifth phase easing of COVID-19 restrictions, allowed consumer confidence to improve last month, the third month in a row, to 50.1 points from 49.2 in June.
The President of the University of the Thai Chamber of Commerce (UTCC), Asst. Prof. Dr. Thanavath Phonvichai, pointed out that despite the upward trend in consumer confidence, the figure is still at its lowest in 21 years and 10 months, on the continued negative impact of COVID-19 on spending, tourism, exports and employment, as well as concerns about the political situation.
Overall confidence in the economy, job prospects and revenue were also up compared to June, with only confidence in politics continuing a downward trend for the 17th month.
Economics
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.
Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.
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Economics
World Bank lowers Thai GDP growth outlook to 2.2%
In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.
BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.
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