Thai FPO sees 4.5% economic growth this year after strong Q3 performance

[webfact]

FPO sees 4.5% economic growth this year after strong Q3 performance

 

 

BANGKOK, 30 October 2018 (NNT) – Thailand's Ministry of Finance expects the Thai economy to expand by 4.5 percent this year after noting state mega investments in the third quarter bolstered private sector confidence and spurred further investment. 

The Fiscal Policy Office (FPO) has put Thai economic growth in the range of 4.3-4.7 this year, up from a projection last year of 3.9 percent, due to a pickup in private spending, consumption and investment. Private investments in the third quarter were up 21.2 percent with September marking a 21 month growth streak. Consumer confidence was measured at 69.6, the highest in 15 quarters, and was in step with an increase in employment and income in the farming sector. State assistance programs such as the welfare card scheme also benefited the public. 

Foreign tourists entering the country were up year-on-year in the quarter and are expected to support other industries. While Thai trade has been somewhat affected by US trade restrictions, export growth has only been tempered to 8 percent from a previous 9.7 percent. Nonetheless, 4.8 percent growth in the economy during the first half of the year has maintained confidence in continued expansion. The FPO has delayed making assessments on 2019 due to the trade war complicating data.

 

-- nnt 2018-10-30

[Srikcir]

7 hours ago, webfact said:

While Thai trade has been somewhat affected by US trade restrictions, export growth has only been tempered to 8 percent from a previous 9.7 percent.

Just a couple weeks ago, TNSC President Ms. Kanyapak Tantipipatpong says that despite the export growth forecast of 9% this year, exporters are still coping with rising transportation costs which are triggered by traffic jams and rising fuel prices.

Now down 17.5% - that's "tempered"?

Rising transportation costs - won't that also affect the farming sector profitability?

I'd say there's some disconcerting volatility in Thnailand's export growth to say the least.