Thailand’s Economic Index Falls - Household Debt Rises

 

   

BANGKOK (NNT) - Due to the COVID-19 pandemic, the employment rate, debt and other financial burdens have been affecting the economy and Thailand’s cost of living. The country’s economic index has also decreased.

 

It’s predicted that the economic index for the next three months will decrease from 37.4 to 36.8. Meanwhile, Thai families are increasingly concerned with all aspects of changes, especially the costs of products and services after food and energy capital costs were raised. Another factor that might play a major part in the economic conditions is the possibility of a second wave of the COVID-19 pandemic.

 

Kasikorn Research Center has predicted that Thailand’s economic situation and cost of living for the rest of this year is slowly regenerating but is still fragile, even though the Bank of Thailand and the government have been launching financial support of various types.

 

The main reasons are the low employment rate and global economic woes.

 

However, the survey found that if there is a second wave of the pandemic, the majority of Thai citizens still want the government to lockdown only places affected by the outbreak.

 

Source: http://thainews.prd.go.th/en/news/detail/TCATG200811165822007

 

-- © Copyright NNT 2020-08-12

 

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Sure this news will push up the baht in true mysterious fashion to balance someones books????  

Can anyone explain what this "economic index" refers to and where it comes from? I just haven't heard of it.

Also, the Kasikorn group's idea that the economy is "slowly regenerating" seems counter to other predictions out there.

 

same same everywhere .....  the great Thailand comes crashing down .... lol

7 hours ago, webfact said:

BANGKOK (NNT) - Due to the COVID-19 pandemic, the employment rate, debt and other financial burdens have been affecting the economy and Thailand’s cost of living. The country’s economic index has also decreased.

This was the case before Covid-19 thanks to Prayuts gang .

 

But..... The Teflon Baht keeps rising !

35 minutes ago, trainman34014 said:

But..... The Teflon Baht keeps rising !

Against what? Dollar?

Compare with something else.

 

 

https://www.xe.com/currencycharts/?from=EUR&to=THB&view=1Y

15 minutes ago, tomazbodner said:

Against what? Dollar?

Compare with something else.

 

 

https://www.xe.com/currencycharts/?from=EUR&to=THB&view=1Y

From 34 to 37 bths for 1 euro is not really amazing

with the actual economic situation in Thailand the ''real''

valor of the thb against the euro should be at least around 40\45

since 2 or 3 months

but maybe the economic situation of the euro area is even worse?

Edited August 12, 20205 yr by kingofthemountain

Keep talking up the economy, markets or currency even when the fundamentals expect a decline and it's likely to slow the inevitable. Heads in the sand approach and blame everyone else or any other factor. Can't blame them or any other company/government/trade body really. If they told the truth to the people it would be pandemonium. Real investors and those with interests don't beleive the hype and vote with their feet (and withdraw funds from risky situations).

If you check the baht's performance since March (eg at xe.com), it has basically fallen against the AUD & the Euro, but the picture against the USD, CAD & £ is messy & even rising (but with no very clear pattern emerging).

22 hours ago, kingofthemountain said:

but maybe the economic situation of the euro area is even worse?

ECB is printing money.

https://www.ceps.eu/whats-the-ecb-doing-in-response-to-the-covid-19-crisis/

Edited August 13, 20205 yr by DrTuner

The household debt is the big worry, they have sold their gold and borrowed more sooner or later the day of reckoning will come, the current administration dont seem to understand that while they still have jobs and getting paid along with all the government agencies the rest of the country which is more than half have seen the world they knew disappear with jobs and more no more and no chance of them returning and what does the Government do? They dont seem to understand that there is a huge problem developing, the demonstrations are not going to go away and get smaller, some interesting times ahead for Prayuth and his friends coming soon,  white suit and a smile is not the answer.