Thai GDP grows 2.3 percent in last quarter of 2014

[webfact]

GDP grows 2.3% in last quarter of 2014
By Digital Content



BANGKOK, Feb 16 -- The Office of the National Economic and Social Development Board (NESDB) announced that the Thai economy grew by 2.3 per cent in the fourth quarter of 2014.

It ruled out the possibility of deflation as the national economy is expanding well.

NESDB Secretary-General Arkhom Termpittayapaisith said the gross domestic product of Thailand obviously improved compared with its 0.6 per cent growth rate in the third quarter.

He attributed the fourth quarter expansion to consumption and investment in the private sector, exports and expenses on government supplies.

Household spending increased by 1.9 per cent.

The Consumer Confidence Index in the overall economy rose to 69.6, up from 69.3 in the previous quarter.

Government investment went up by 3.2 per cent and private investment rose 4.1 per cent.

Exports increased 1.5 per cent compared with their 1.7 per cent decline in the third quarter.

Export value stood at Bt56.76 billion. Overall last year the Thai GDP expanded by 0.7 per cent.

Mr Arkhom said the Thai economy was likely to expand by 3.5-4.5 per cent this year as exports would slowly increase in tandem with the global economy, investment in the private sector and tourism recovery, and the government would quickly disburse budgets for its important projects and global oil prices would drop. (MCOT online news)


-- TNA 2015-02-16

[Strangebrew]

I was watching Bloomberg and got different outlook on Thai economy Showed net decrease in exports Who comes up with this BS?

[webfact]

Related topic:

Growth falls to lowest since 2011



BANGKOK: -- The National Economic and Social Development Board (NESDB) today revealed the latest economic figures in 2014 showing the country's economic growth falling to its lowest record in three years.

Full story: http://www.thaivisa.com/forum/topic/800767-thai-economy-posts-weakest-growth-for-three-years/#entry9078867

[ExpatOilWorker]

Inflation was probably also around 2.3% in 2014, so no real growth really.

[kalbo123]

I was watching Bloomberg and got different outlook on Thai economy Showed net decrease in exports Who comes up with this BS?

NESDB!

[rickirs]

"Mr Arkhom said the Thai economy was likely to expand by 3.5-4.5 per cent this year"

Consider this prediction:

Economic growth is expected to increase 2-3% in the first quarter of 2015 - thaivisa.com 2015-02-15

If the 2015Q1 GDP growth is 3%, each of the remaining three quarters must have growth rates of 5% to achieve an annual growth of 4.5%!

No one in or out of government is forecasting any quarter in 2015 hitting 5% GDP growth. In fact Thailand experienced negative inflation rate in January 2015. - Finance Minister Sommai Phasi, 2015-02-02.

The Inspector-general of the Ministry of Commerce Somkiat Triratpan, 2015-02-02, forecasted the CPI would range from 1.8 to 2.5% throughout 2015. That means the GDP growth for January 2015 was less that 2.5%. So if the 2015Q1 GDP growth is (say) 2%, each of the remaining three quarters must have growth rates of 5.3% to achieve an annual growth of 4.5!

Recently, the Junta announced it will make no further substantial capital investments in the Thai infrastructure. That's apart from the fact it never has. The Junta and the nation will be fortunate that the 2015 GDP keeps even with inflation.

While the Junta holds power over democracy, it holds no power to overturn the principles of economics.

[Rancid]

All governments manipulate data to cover their incompetence, so take anything with a grain of salt.

Had to laugh at the comment about trusting Blomberg for financial information. Also CNBC and CNN, can trust whatever they say as well.

[Ruud4u]

I always get enthusiastic when i hear the good expectations of the this year.

But Thai companies has haughtiness.about their foreign investments (??)

Chang Beer is shirtsponsor of Everton......but Chang is not for sale in Engeland

Air Asia is shirtsponsor of Queen Park Rangers..........but they don't fly on Europe

A few other Thai companies invested in lower division foorball teams.....but WHY ??

Thailand need investments in touristindustry and not in English football, because after 1 year they have to pay again and again.

Thai stay with 2 feet on the ground and invest in the grow of the Thai economy.

Now the grow of Thailand is for more than 60% in hands of foreign companies.

Thai can only pray for a better future

[samii]

I read somewhere today that Thai economy "collapsed" to growth figure 1.7%

[samii]

I read somewhere today that Thai economy "collapsed" to growth figure 1.7%

I read it somewhere else, but here as well

http://www.cnbc.com/id/102427944

[Xircal]

Well, it's not all doom and gloom as can be seen here: http://www.dealstreetasia.com/countries/thailand/

[kotsak]

From Bloomberg

http://www.bloomberg.com/news/articles/2015-02-16/thai-gdp-growth-falls-further-behind-neighbors-chart-of-the-day