Thai economy likely to continue shrinking until Q1 2021 – RHB Research By Linda Khoo Hui Li BANGKOK, Sept 17 – Thailand’s economy is likely to stay in contraction until the first quarter of 2021, said RHB Research Institute Sdn Bhd. In a note today, the research house said the country’s economic activities were starting to…
Consumer confidence in August up for four straight months The University of the Thai Chamber of Commerce (UTCC) reported on Wednesday the consumer confidence index rose to 51 in August from 50.1 in July, 49.2 in June, 48.2 in May and 47.2 in April. The University of the Thai Chamber of Commerce’s Center for Economic…
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…
Thailand’s GDP to shrink from 9.4 to 11.4 percent The Thai Chamber of Commerce (UTCC) has predicted that the Thai GDP this year will shrink between 9.4 to 11.4 percent due to the COVID-19 pandemic. The Center for Economic and Business Forecasting (CEBF) of the University of the Thai Chamber of Commerce (UTCC) has predicted…
Foreign chambers pin faith in post-reshuffle team to revive economy The foreign chambers of commerce in Thailand are hoping that the government’s new economic team will come up with measures to stimulate the economy after the Covid-19 situation improves. Stanley Kang, chairman of the Joint Foreign Chambers of Commerce in Thailand (JFCCT), the umbrella body…
Price of gold rises but investment not without risks A leading investment research firm says the price of gold is on the rise, with predictions bullion could reach US$2,000 an ounce. Chayanee Juengmanon from Morningstar Research Thailand says one exchange-traded fund favoured by most domestic gold mutual funds, recorded net inflows of over $20 billion…
Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy (Bloomberg) — Thailand’s economy will likely contract 8.5% in 2020, worse than previously estimated and the biggest decline of any Asian nation this year. The Finance Ministry’s forecast, released in Bangkok on Thursday, compares with a previous projection of 2.4% growth. The central bank is estimating…
Federation of Thai Industries says unemployment could hit 8m The prolonged Covid-19 pandemic will likely leave up to 8 million people unemployed by the end of this year, says the Federation of Thai Industries. The economy in the second half of 2020 will not fully recover because the stimulus packages will take time to boost…
Somkid’s departure sees baht drop further The baht’s current shine as the ‘safe’ current in Asia has lost its lustre. After riding high as Asia’s best performing currency last year, the baht has wiped out all of its 8% gains this year during the Covid-19 crisis, and yesterday’s announcement of the resignations of Deputy PM Somkid Jatusripitak…
Thai gov’t supports “Tourism Aid” to boost domestic tourism The University of the Thai Chamber of Commerce’s chancellor, said that “Tourism Aid” will stimulate tourist spending by between 30 – 50 billion baht, to the benefit of Thailand’s economy. Bangkok (NNT/VNA) – The University of the Thai Chamber of Commerce’s chancellor, said that “Tourism Aid” will…