New Covid-19 Outbreak May Slash Consumer Spending up to Bt100 Billion

[snoop1130]

 

BANGKOK (NNT) - Consumer spending may drop up to 100 billion baht if a new coronavirus outbreak lasts for two months, possibly sinking the economy in the current quarter.

 

University of the Thai Chamber of Commerce president Thanavath Phonvichai said as the country deals with a new wave of infections and the presence of a highly transmissible variant first identified in Britain, sentiment is expected to drop for at least three months before picking up if the Covid-19 situation eases quickly.

 

He expected the outbreak to be controlled within two months and for consumer spending to be cut by 60 billion baht to 100 billion baht, or 0.3-0.5% of gross domestic product (GDP). There is a risk that the economy will shrink in the second quarter, rather than grow 1-2% as earlier forecast.

 

Growth this year could be only 2.0-2.5%, not 2.8% as earlier predicted, if the outbreak cannot be contained within two months.

 

-- © Copyright NNT 2021-04-09

 

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[Excel]

A complete buffoon along with the rest of them. Under control within 2 months ? what is he drinking or perhaps he has spent too much time with his pals in Thong Lor and it is just wishful thinking

[ThailandRyan]

12 minutes ago, snoop1130 said:

sentiment is expected to drop for at least three months before picking up if the Covid-19 situation eases quickly.

I personally do not believe that the sentiment will pick up nor will the situation ease quickly.  However, anything is possible like a toilet seat falling from the sky and killing me.  Where will spending come from if the venues stay closed for extended periods of time and one has to possibly quarantine or take a PCR test just to enter another province.  Mistakes have been made that will unfortunately allow this virus to run the country and hit every province.  Time to become like Rumpelstiltskin and find a tree to slumber under until the whole thing blows over.

 

Traces of sarcasm can be found throughout this post. 

[webfact]

topic runs already here:

 

//Closed//

/Admin