Thailand Economic Outlook
May 22, 2018Available data suggests that last year’s strong economic momentum carried over into this year. Export growth was robust throughout Q1, propelled by buoyant global growth. Moreover, monthly data shows private consumption picked up in the period thanks to low unemployment and elevated consumer confidence; sentiment among consumers averaged higher in Q1 than in Q4, and it reached the highest level since December 2014 in April. On a less positive note, business confidence dropped into pessimistic territory for the first time in a year in April. In the same month, the manufacturing PMI remained in contractionary territory, while manufacturing output eased for the fourth consecutive month in March.
Thailand Economic GrowthDomestic demand is expected to increase this year and next on the back of a pick-up in public sector consumption and fixed investment ahead of elections scheduled for no later than February 2019. Export growth, however, is likely to moderate due to a large base effect, while increasing trade tensions between the U.S. and China continue to pose a significant downside risk to the external sector. Domestic risks include the high level of household debt, which could drag on private consumption. Political uncertainty in the lead up to the elections could moreover dent investor confidence. Met the why particular panelists expect the economy to grow 3.9% in 2018, which is unchanged from last month’s forecast. The panel projects growth of 3.7% in 2019.
Thailand Economy Data
5 years of Thailand economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.72||0.0 %||May 21|
|Exchange Rate||32.16||0.17 %||May 21|
|Stock Market||1,768||-1.41 %||May 21|
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Thailand Economic News
May 24, 2018
The Thai economy moved full steam ahead in the first quarter, registering the quickest pace of expansion in five years on the back of a pick-up in private consumption and robust foreign demand.
May 23, 2018
At the opening of the second quarter, Thailand’s external sector recorded its second trade deficit of the year, with imports growing at a stronger pace than exports.
May 16, 2018
At its 16 May meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) unanimously opted to maintain the one-day repurchase rate at 1.50%.
May 2, 2018
In April, consumer prices in Thailand increased 0.45% over the previous month, contrasting the 0.09% drop in prices seen in March.
April 30, 2018
In the final month of the first quarter, industrial output growth moderated from 4.6% year-on-year in February to 2.6%.