FTI sanguine on vehicle output, buyer confidence

FTI sanguine on vehicle output, buyer confidence

FTI sanguine on vehicle output, buyer confidence Car manufacturing is expected to increase by 5.12% to 1.5 million units this year from 1.42 million units last year as the Federation of Thai Industries (FTI) pins hopes on the state’s ability to get the ongoing outbreak under control to bring Thailand back on track towards economic…

Fitch sees 'very dim' path for GDP growth

Fitch sees ‘very dim’ path for GDP growth

Fitch sees ‘very dim’ path for GDP growth Despite several fundamental buffers to cushion against the crisis, Thailand’s near-term growth prospects are “very dimmed” due to substantial losses stemming from the absence of foreign tourist arrivals, said Fitch Ratings. “It is one of the economies that is most reliant on tourism flows. [Thailand] has been…

COVID-19 brings first consumer confidence drop in 3 months

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

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Future of Thai department stores is being redefined

Future of Thai department stores is being redefined While department stores have been a familiar destination for Thai people for many decades, CBRE, an international property consultant, is witnessing a decline in popularity and stunted growth, particularly in 2020 when Covid-19 adversely impacted the sector. CBRE believes that to adapt to e-commerce disruption and the…

Thailand’s rich not eligible for 3,500 baht government handout

Thailand’s rich not eligible for 3,500 baht government handout Thailand’s Finance Ministry has confirmed that wealthy citizens are not eligible for the government’s monthly cash handout of 3,500 baht. The Rao Chana (“We Win”) scheme consists of 2 monthly payments of 3,500 baht for those struggling with the financial fallout of the Covid-19 pandemic. Those with savings above a…

Economist predicts economy will shrink 8.9% this year, despite easing of restrictions

Thai Exports to grow 4% in 2021

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. BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return…