Thailand’s economy staring at recession at year-end

[webfact]

(Photo by Tim Mossholder)

 

The Thai economy rebounded in the second quarter, growing by 7.5 percent year on year, after a 12.1 percent contraction during April-June last year. The high economic growth in the second quarter compared to the same period last year is the result of an unusually low base, and is not an accurate reflection of the economic reality.

 

A better indicator is the quarter-on-quarter data after seasonal adjustment, which shows growth at 0.4 percent compared to the first quarter that saw only a 0.2 percent improvement on the fourth quarter of last year.

 

“The momentum of recovery has decelerated,” said Danucha Pichayanan, secretary-general at the National Economic and Social Development Council (NESDC).  

 

Full story: https://www.thaipbsworld.com/thailands-economy-staring-at-recession-at-year-end/

 

-- © Copyright Thai PBS 2021-08-20

 

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[ikke1959]

Mr Prayuth managed to bring the country into a recession, well done ...

[cmarshall]

With a tourism sector that accounts for between 11% and 20% of GDP, there was never a way that Thailand was going to avoid a recession in the Covid time.  Unfortunately, the timeline to recovery of the tourism sector is receding at the moment.

[Tropposurfer]

1 hour ago, cmarshall said:

With a tourism sector that accounts for between 11% and 20% of GDP, there was never a way that Thailand was going to avoid a recession in the Covid time.  Unfortunately, the timeline to recovery of the tourism sector is receding at the moment.

Thank the gods for cmarshall, a poster with a grasp of reality 

[neverere]

Poor journalism. An economic recession is usually considered to be 2 consecutive quarters of negative GDP growth. The figures in this article do not indicate this to be the case.   

[MrJ2U]

Without completely vaccinating the country I don't see any end to this.

 

The initial idea to save money (or pocket it) has backfired.

 

They could be making billions of dollars if everyone was vacvinated and open for tourism.

 

Easily offsetting any cost for the vaccines.