snoop1130 Posted February 11, 2021 Share Posted February 11, 2021 Thai Q4 contraction seen slowing to 5.4% year-on-year, recovery slow: Reuters poll By Orathai Sriring FILE PHOTO: Workers work at a construction site in central Bangkok, Thailand, December 12, 2016. Picture taken December 12, 2016. REUTERS/Athit Perawongmetha BANGKOK (Reuters) - Thailand's economy likely shrank at a slower annual pace in the final quarter of 2020 than in the previous three months, but it remained set for the deepest full-year slump in more than two decades due to the coronavirus pandemic, a Reuters poll showed. Southeast Asia's second-largest economy has gradually recovered since mid-2020 after coronavirus restrictions were eased, but an ongoing travel ban has kept most foreign visitors away and a recent wave of infections dealt a further blow to the nascent recovery. The tourism-reliant economy likely contracted 5.4% in the fourth quarter from a year earlier, after a 6.4% drop in the September quarter, according to the poll. Quarter-on-quarter, gross domestic product (GDP) likely expanded a seasonally adjusted 0.8% in the October-December quarter, after the previous period's 6.5% growth. The economy was expected to have contracted 6.4% in 2020, marking the worst performance since a 7.6% slump in 1998 during the Asian financial crisis. The poll predicted growth of 2.9% this year, with analysts downgrading their forecasts due to fresh outbreaks of the virus detected in December, and Thailan's slow vaccine procurement. Nomura economist Charnon Boonnuch said he forecast "only a modest pickup" in GDP growth to 2.8%, despite low base effects. "The Thai economy in the fourth quarter lost momentum as glimmers of hopes for tourism income faded," said Kobsidthi Silpachai, head of capital markets research at Kasikornbank. "Until vaccination is able to build herd immunity, the economy will continue to require substantial accommodation from both fiscal and monetary policy," he said. In November, the National Economic and Social Development Council, which compiles GDP data, forecast growth of 3.5%-4.5% this year. It will give new projections on Monday. -- © Copyright Reuters 2021-02-11 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post bkk6060 Posted February 11, 2021 Popular Post Share Posted February 11, 2021 21 minutes ago, snoop1130 said: The poll predicted growth of 2.9% this year, with analysts downgrading their forecasts due to fresh outbreaks of the virus detected in December, and Thailan's slow vaccine procurement. There you go. Slow vaccine procurement. Less then 3rd world. Even Cambodia has started vaccines and Vietnam has 30 million Astrazeneca coming. Thailand: No one to blame but themselves. Shameful and sad. 4 Link to comment Share on other sites More sharing options...
ThailandRyan Posted February 11, 2021 Share Posted February 11, 2021 (edited) 56 minutes ago, bkk6060 said: There you go. Slow vaccine procurement. Less then 3rd world. Even Cambodia has started vaccines and Vietnam has 30 million Astrazeneca coming. Thailand: No one to blame but themselves. Shameful and sad. And because of their inaction and a better than though attitude Thailand is reaping the great GDP decline they do not want, yet the Thai Baht is still climbing. Economy is slowing down more and because of the way the second coming of Covid was handled there are more closures and more unemployment. Tourism has become extinct. Edited February 11, 2021 by ThailandRyan Link to comment Share on other sites More sharing options...
Blumpie Posted February 11, 2021 Share Posted February 11, 2021 I'm sorry guys, you need the vaccine even if you are doing fantastic on the pandemic. Until there is mass vaccination, the chances of a recovery seems to be improbable. Everyone on the planet wants them right now. What the numbers show us is a large portion of people were in the underground economy when it came to tourism. 2 Link to comment Share on other sites More sharing options...
RichardColeman Posted February 11, 2021 Share Posted February 11, 2021 11 hours ago, snoop1130 said: Quarter-on-quarter, gross domestic product (GDP) likely expanded a seasonally adjusted 0.8% in the October-December quarter, after the previous period's 6.5% growth. Is that like an expansion of 0.8% on top of the 20% gdp tourism loss ? 2 Link to comment Share on other sites More sharing options...
Cake Monster Posted February 12, 2021 Share Posted February 12, 2021 14 hours ago, Blumpie said: I'm sorry guys, you need the vaccine even if you are doing fantastic on the pandemic. Until there is mass vaccination, the chances of a recovery seems to be improbable. Everyone on the planet wants them right now. What the numbers show us is a large portion of people were in the underground economy when it came to tourism. Even with the projected roll out of Vaccine from Siam Bioscience starting in June ( if no problems ) its going to be at the very least the start of October before the 50% of population are vaccinated as per plan of 10 Million per month Most other Countries will have nearly completed their Vaccine programs by October , if not sooner, so sales of Vaccine from SB are going to be minimal. Link to comment Share on other sites More sharing options...
Elkski Posted February 12, 2021 Share Posted February 12, 2021 (edited) Do these numbers make sense? 19 hours ago, snoop1130 said: Quarter-on-quarter, gross domestic product (GDP) likely expanded a seasonally adjusted 0.8% in the October-December quarter, after the previous period's 6.5% growth Does he mean previous quarter or previous years period's 6.5% growth? How does this report get away with saying slow vaccine procurement? Do they complain about this truth in the BKK post? And other mainstream media? My county in the state of Utah says all we get the phizer vaccine by end of May. Not sure i believe this. https://www.ksl.com/article/50104999/every-adult-in-utah-could-be-vaccinated-by-end-of-may-director-says-1299-covid-19-cases-17-deaths-reported-wednesday Edited February 12, 2021 by Elkski Link to comment Share on other sites More sharing options...
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