Chamber of Commerce slashes Thai growth outlook over global inflation

[webfact]

 

By Panithan Onthaworn

 

The University of the Thai Chamber of Commerce (UTCC) lowered Thailand’s economic growth forecast for 2022 to 3.1 per cent on Thursday, citing growing inflationary pressures.

 

The UTCC’s previous forecast was 4.2 per cent growth in November last year, when the Russia-Ukraine war had not yet disrupted the global energy and commodity prices.

 

“Growing inflation has weakened demand across the world and forced the governments of major economies to raise interest rates,” said Wichian Kaewsombat, assistant director of the UTCC’s Centre for Business and Economic Forecasting.

 

Full story: https://www.thaienquirer.com/40948/chamber-of-commerce-slashes-thai-growth-outlook-over-global-inflation/

 

-- © Copyright Thai Enquirer 2022-06-17

 

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[RichardColeman]

3 hours ago, webfact said:

The University of the Thai Chamber of Commerce (UTCC) lowered Thailand’s economic growth forecast for 2022 to 3.1 per cent on Thursday, citing growing inflationary pressures.

I suppose the reason of 'idiots not opening fully without restriction' is hidden in the small print somewhere

[mikebell]

Now if they could just temper TAT's wild imagination we might just see some realism about Thailand's plight.

[Caldera]

That still sounds pretty optimistic to me. 

[worgeordie]

6 hours ago, webfact said:

“Growing inflation has weakened demand across the world and forced the governments of major economies to raise interest rates,”

But not Thailand , what are they waiting for , 

regards worgeordie

[Will B Good]

What would the UK do to hear of a 3.1% growth forecast?

[Cake Monster]

As sure as Eggs are Eggs, Thailands economy is going to be dragged down by the fact that many other Economies around the World are experiencing some major issues with inflation and growth, many Countries of which are on the cusp of tipping into Recession.

Thailand is reliant upon these Economies for their Export Markets and Tourism, and both of these will see a marked downward curve over the next few Months

3.1 % is at the very top of the optimism curve IMO, and a figure nearer to 1 % is realistic.