BoT is optimistic the Thai economy is doing better

[webfact]

BoT is optimistic the Thai economy is doing better

BANGKOK, 18 November 2014 (NNT)-The Bank of Thailand (BoT) has insisted that the Thai economy is improving as the government has effective economic stimulus measures in place.

BoT Governor Prasarn Trairatvorakul said the Thai economy has been recovering compared to the first and second quarters. The growth was in contraction of 0.6 percent in the first quarter and recorded a positive rate 0.1 percent in the second quarter. It is expected to expand beyond the 0.1 percentage in the third quarter.

The Governor said the improvement is the result of a better political climate. He added that the current monetary policy is flexible enough to allow the economy to grow. It has also been developed to deal with impacts from the global economy and the internal factors.


-- NNT 2014-11-18

[David48]

Humm ... interesting.

I got this from the Broker this morning ...

ECONOMICS : Mea Culpa: Economic recovery is weaker than previously expected

The Thai economic recovery seems to be considerably weaker than previously expected, reflected by the disappointing 3Q14 GDP reading of just 0.6%. The poor headline figure was attributable to surprisingly weak government spending and fragile external demand. As a result of the lackluster report, we have cut the GDP projections for 2014 and 2015 to 0.8% and 4.0%, respectively. However, the gradual recovery of private spending was seemingly not derailed. Thus, we maintain our view that the BOT will “wait and see” regarding the overall economic recovery and keep its policy rate at 2.0%, at least for the next meeting on 17 Dec.

• 3Q14 GDP reading surprisingly disappointing, recording growth of 0.6% YoY
• Mostly due to surprisingly weak government spending and fragile external demand
• On the bright side, the gradual recovery of private spending was seemingly not derailed

[Thailand]

Growth is rapidly disappearing,recession just around the corner by the way it is going?

[worgeordie]

Who to believe,so many conflicting reports coming from different

departments of the Government,confusing to say the least.

regards Worgeordie

[Thaddeus]

Better than what? ..... Greece.

[useronthenet]

What the Governor really mean't to say that Thailand was a whisker away from a recession.

Edited November 18, 2014 by useronthenet

[rickirs]

"the improvement is the result of a better political climate"

But not as good as the economy BEFORE the PDRC anti-government protests and the military coup took place in Q4 in 2013.

[elgordo38]

Watch the bouncing ball and sing along. No worries on household debt. Here comes Snow White and the 7 Dwarfs. When governments speak so positively I would be scared really scared. I know negativity is not in their vocabulary.

[MacWalen]

I think long term Thailand will do well. I have been here for over 13 years and it is getting better and better every year. The key is to keep the peace as those demonstrations don't help business.

[emilymat]

I think long term Thailand will do well. I have been here for over 13 years and it is getting better and better every year. The key is to keep the peace as those demonstrations don't help business.

So, we can have a new label "The Military, the party of business".

[Eric Loh]

I think long term Thailand will do well. I have been here for over 13 years and it is getting better and better every year. The key is to keep the peace as those demonstrations don't help business.

The future is certainly worth looking forward. Thailand has all the potential sitting strategically in the center of fast developing free markets. Is like Singapore in the 70s located strategically among resources rich Malaysia and Indonesia and along the sea route. The infrastructure reforms will be paramount to the success of tapping the border trades and a sea route for the hinterland plus South West China. We need to improve on our banking services and continue to maintain good relationship with our neighbors. Only caveat and a real spoiler is political instability and repeated coups. Opportunities all there and just need the politicians to screw this all up.

[tomacht8]

BoT is optimistic the Thai economy is doing better

Guess it is a gut feeling, then based on any predictive analysis.

Global recession and safety problems in the tourism sector will have an impact in a negative fashion short-medium term.

[Chris Lawrence]

'The surprisingly weak outlook has raised doubts the junta can quickly turn the economy around even after pledging to roll out infrastructure projects and other steps to boost spending.' http://www.reuters.com/article/2014/11/17/thailand-economy-gdp-idUSL3N0T433E20141117

Sounds as though they need to get some of the infrastructure projects up and running.

[Cake Monster]

" Gradual recovery of private spending " will surely be the release of some of the " Governments " SME Loans stimulus money entering into the economy.

New TV, new IPad, new Pickup Truck, all needed to conduct the business, and be more cost effective, and competative of course.

Household debt is what ? nearly 85 % of the GDP now.