Thais are tightening their belts and spending less – survey Nearly 70% said they’ve reduced spending on things like travel, shopping, parties and luxury goods.” Thais are tightening their belts and reducing their spending to weather the country’s growing stumbling economy, according to a Dusit Poll survey. The poll was conducted November 19-23 and surveyed…
NESDC cuts Thailand’s growth to 2.6% GDP growth this year is now expected down to 2.6 percent, but the council now expects 2020 GDP to grow at least 2.7 percent when the export sector is expected to recover BANGKOK (NNT) – The Office of the National Economic and Social Development Council (NESDC) has announced that…
Thailand’s 2019 Forecast Cut to 2.6% as Q3 GDP slows to 0.1% On an annual basis, gross domestic product (GDP) rose 2.4% in the third quarter, less than the forecast 2.6%. Thailand’s economy grew at its slowest quarterly rate in a year in the third quarter, leading the government to cut this year’s growth estimate…
Thai PM opens ASEAN Summit in Bangkok amid world economic tensions The 35th Summit of ASEAN leaders opened yesterday against a backdrop of global economic tensions and prolonged trade negotiations between China and the US. Thai PM Prayut Chan-o-cha welcomed the international delegation of the ASEAN Summit at Impact Muang Thong Thani in Nonthaburi, north-west…
Finance Ministry cuts economic growth outlook to 2.8% The Ministry of Finance has now cut the country’s economic growth outlook to 2.8%, from the previous 3%. BANGKOK (NNT) – After three quarters, the global economic slowdown and the ongoing trade war between China and the United States, are still having an adverse impact on the…
EIC Export growth forecast for 2019 is maintained at -2.5% Without a clear signal of export recovery, EIC views that during the 4th quarter of 2019 the export contraction momentum will continue Although China and the US reached a preliminary trade agreement on October 10-11, 2019, the ongoing trade war should still drag on, pressuring…
Out of 37 countries, Thailand has the worst pension system, says Bloomberg Thai Residents reports that on Sunday, Bloomberg published an article on the world’s best pension systems, using information gathered from the 2019 Melbourne Mercer Global Pensions Index. The survey looked at the pension systems of 37 countries with metrics including employee rights, savings,…
IMF and SCB lower Thai growth forecast under 3% IMF and SCB have joined other banks and organisations to predict Thai economic growth under 3% for 2019. Siam Commercial Bank’s (SCB) Economics Intelligence Center (EIC) has adjusted its Thailand 2019 economic growth projection from 3 percent down to 2.8 percent. The center has reported that…
Thailand drops to 40th in WEF Global Competitiveness Report Thailand’s competitiveness ranking has dropped two spots from 38th to 40th in the World Economic Forum’s Global Competitiveness Index rankings for 2019 Thailand is the 40 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report…
Thailand may lift ban on foreign investors for some innovation sectors Thailand’s Commerce Ministry is considering whether to remove certain innovation-related businesses from the list of those open only to Thai citizens. The idea is being floated as a way of increasing foreign investment in Thailand, making the country a more attractive option for overseas…