Commerce panel maintains economic growth in minus figures for 2020

[snoop1130]

Commerce panel maintains economic growth in minus figures for 2020

By The Nation

 

 

The Joint Standing Committee on Commerce, Industry and Banking said it is maintaining its economic growth forecast at between minus 9 per cent and minus 7 per cent, and export forecast at between minus 12 per cent and minus 10 per cent for this year.

 

The committee said Thailand was still experiencing many uncertainties, which is affecting the confidence of consumers and investors.

 

Economic indicators in July showed less contraction thanks to higher household spending on travel during long weekends and the easing of lockdown measures. However, the economy remains weak overall, while unemployment has risen to beyond 700,000 in the second quarter.

 

For the remainder of the year, the economy is leaning towards contraction as some of its main trading partners are experiencing a second wave of Covid-19 infections.

 

Source: https://www.nationthailand.com/business/30394252

 

-- © Copyright The Nation Thailand 2020-09-09

 

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[Mavideol]

8 minutes ago, snoop1130 said:

The Joint Standing Committee on Commerce, Industry and Banking said it is maintaining its economic growth forecast at between minus 9 per cent and minus 7 per cent, and export forecast at between minus 12 per cent and minus 10 per cent for this year.

as always they are still very optimistic, they better revise it again soon, at the current speed it looks more like minus 40-50% ....

Edited September 9, 2020 by Mavideol

[hotchilli]

15 hours ago, Mavideol said:

as always they are still very optimistic, they better revise it again soon, at the current speed it looks more like minus 40-50% ....

With a baht strength still in the +

[RichardColeman]

17 hours ago, snoop1130 said:

he Joint Standing Committee on Commerce, Industry and Banking said it is maintaining its economic growth forecast at between minus 9 per cent and minus 7 per cent, and export forecast at between minus 12 per cent and minus 10 per cent for this year.

OK, I know I am no financial or mathematical genius, but if exports are down say 12%, and tourism is down 70-80% year on year, rice sales down 20-25%, and the rest of the plus -15% list, just how without manipulation can they possibly get to -7%. The only way that would be possible without manipulation, would be that one sector in Thailand is up by say 500%, but for the life of me apart from 'hot air' I cannot see a huge growth anywhere !