TMB Analytics raises economic forecast following positive factors

 

FILE photo

 

BANGKOK, 4 June 2018 (NNT) - TMB Analytics has raised this year's economic forecast following a number of positive factors. 

TMB Analytics has adjusted Thailand's economic growth forecast from 4.2 percent earlier this year to 4.5 percent in response to the International Monetary Fund's global economic forecast of 3.9 percent. The National Economic and Social Development Board (NESDB) recorded the gross domestic product (GDP) of this year's first quarter at 4.8 percent. 

Analysts say a hike in fuel price on the world market has put up the prices of fuel-dependent commodities, including agricultural products, which represent 25 percent of the country's export value. They predict the country's exports will rise to 8.6 percent this year. 

The domestic economy is also trending upwards. The private sector's investment is anticipated to gain momentum as seen from the continued import of capital goods such as machinery throughout six quarters and increased manufacturing capacity of the chemical and automotive industries. 

The release of the Eastern Economic Corridor (EEC) Act, which aims to ease investment limitations has strengthened the private sector's confidence. State investment projects have also benefited the economy despite a slowdown in budget spending. 

Foreign tourist arrivals, whose number is predicted to rise by nine percent to above 38 million this year, still play a key role in the economy, though most of their cash will likely be spent in popular provinces rather than in lesser known regions. 

The private sector is also showing signs of increased consumption, as seen from higher purchases of durable goods after the conclusion of the first car scheme. A revenue growth of the agro-sector resulting from sales of economically important commodities such as rice, tapioca and palm oil are also stimulating consumption.

 

-- nnt 2018-06-04

'The domestic economy is trending upwards .... foreign tourists will increase by 9% ....'

 

Ah, how wonderful to live in fantastical, lying La La Land!

4 minutes ago, Eligius said:

'The domestic economy is trending upwards .... foreign tourists will increase by 9% ....'

 

Ah, how wonderful to live in fantastical, lying La La Land!

They have increased year on year for many years, why should that trend not continue? Here are the increase stats. for previous years, 9% seems quite reasoanable.http://www.thaiwebsites.com/tourism.asp

Edited June 3, 20188 yr by simoh1490

Why don't I trust these rosy figures? Because there are lies, damned lies, statistics, and then ...

 

Thai statistics!

5 minutes ago, Eligius said:

Why don't I trust these rosy figures? Because there are lies, damned lies, statistics, and then ...

 

Thai statistics!

The growth in BOT Foreign Currency Reserves and the strengthening Baht would seem to support the increase figures historically. But then again, there will always be posters for whom any positive news about Thailand is to be disbelieved, it's just the nature of the place it seems!

Things are booming all over Thailand. Hua Hin is packed full of Mercedes and BMW's.

 

I just completed a 1500 kilometer motorcycle trip in Thailand and everywhere I went the roads were full of rush hour traffic, the malls were packed full of people eating and shopping, new and late model cars everywhere you looked.

3 hours ago, NCC1701A said:

Things are booming all over Thailand. Hua Hin is packed full of Mercedes and BMW's.

 

I just completed a 1500 kilometer motorcycle trip in Thailand and everywhere I went the roads were full of rush hour traffic, the malls were packed full of people eating and shopping, new and late model cars everywhere you looked.

Yes, but - as usual everywhere in the world - as the average rises, some rise far & fast, others don't move, and most just move a little at a time.

22 hours ago, Eligius said:

Why don't I trust these rosy figures? Because there are lies, damned lies, statistics, and then ...

 

Thai statistics!

these are projections from a commercial Bank, partly foreign owned with significant influence on management.