Thailand's central bank forecasts sluggish consumption, economy

[webfact]

Central bank forecasts sluggish consumption, economy
By English News



BANGKOK, Nov 30 – The political conflicts have wreaked havoc on Thailand’s economy which saw declining domestic consumption, business confidence, private investment and exports, according to a central bank economist.

Dr Roong Mallikamas, the Bank of Thailand (BOT)'s director of the Macroeconomic Policy Office, said business confidence index declined from 47.5 in September to 47.4, and it will be lowered from 52.3 to 51.7 for the index over the next three months.

Domestic purchases of durable appliances and energy have decreased due to the political uncertainty, she said.

She said the private sector was waiting for the political conflicts to unfold and for the economy to strengthen domestically and internationally after October exports shrank 0.5 per cent to a value of US$19 billion.

Private investment has reduced by 4.9 per cent after delays in new investment projects, particularly industrial manufacturing for exports, she said.

Investments for exports should expand again if the export situation improves next year, Mrs Roong said, adding that declining production has automatically lowered imports by 4.6 per cent, to a value of US$18.7 billion.

She said the recent reduction of policy interest rate by 0.25 per cent would lower risk and maintain monetary security at a certain level in light of high volatility. (MCOT online news)


-- TNA 2013-11-30

[ChrisY1]

The Govt will have a legitimate excuse now for their poor performance...."it's the protestors fault!"

[Robby nz]

Has the past month had such an influence on the economy for the whole year ?

Have not the previous 10 months contributed in some small way ?

But hay the Govt does not have to look to itself now for here is the perfect excuse for all the problems with the economy.

Now all we need is to find a way to blame Abhisit and Suthep for the farmers not being paid.

[NeverSure]

Thailand's Central Bank forecasts...

Well, what is it today???

[Ricardo]

So the technical-recession in Q2 & Q3 was due to the November protests, not this disfunctional government's crap economic-management, then ?

And isn't this a wonderful run-up, bound to raise the cost of borrowing 2.2 trillion, for the sketchy infrastructure-projects which are supposedly considered essential, to dragging the economy out-of-the-mire next year ?

[winstonc]

So the technical-recession in Q2 & Q3 was due to the November protests, not this disfunctional government's crap economic-management, then ?

And isn't this a wonderful run-up, bound to raise the cost of borrowing 2.2 trillion, for the sketchy infrastructure-projects which are supposedly considered essential, to dragging the economy out-of-the-mire next year ?

the 2.2tr loan is in doubt she told the uk ambassador..carry on protesting,,,starring barbara windser,charles haughtry,and gang..and yinglucks sister,,hatty jaques.

[ramrod711]

I'm sure the taxpayers won't mind paying the overtime for all these nice policemen to not do their jobs. I see busloads of red shirts pulling up to the stadium. Just like last time the police ignore them and surround and harass the peaceful protesters. Thaksin thinks, PTP does and so do the police.

[Ulic]

The spin doctors at work.

[noitom]

She state that domestic purchases of energy are because of political uncertainty not to mention that some group is cutting the power.

[Thai at Heart]

Hahaha.

. the protests are just the icing on this cake.