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ADB lowers growth forecast for Thailand
The Nation

BANGKOK: -- The Asian Development Bank has lowered its 2015 economic growth forecast for Thailand, in light of slowdown in the Chinese economy and disappointing rebound in major economies.

The bank cut the 2015 and 2016 forecasts for Thailand to 2.7 per cent and 3.8 per cent. It previously projected the forecasts at 3.6 per cent and 4.1 per cent, respectively.

In the updated version of Asian Development Outlook released yesterday, the bank also said that the direct spillover impacts from China’s economic slowdown could cut Thailand’s growth rate by 0.2 percentage point.

Source: http://www.nationmultimedia.com/breakingnews/ADB-lowers-growth-forecast-for-Thailand-30269392.html


-- The Nation 2015-09-23

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ECONOMY
Thailand's economic recovery delayed to next year: ADB
The Nation

BANGKOK: -- The Asian Development Bank has lowered its 2015 economic growth forecast for Thailand, in light of slowdown in the Chinese economy and disappointing rebound in major economies.

The bank cut the 2015 and 2016 forecasts for Thailand to 2.7 per cent and 3.8 per cent. It previously projected the forecasts at 3.6 per cent and 4.1 per cent, respectively.

In the updated version of Asian Development Outlook released yesterday, the bank also said that the direct spillover impacts from China’s economic slowdown could cut Thailand’s growth rate by 0.2 percentage point. ADB’s growth projections for China in 2015 and 2016 are also slashed to 6.8 per cent and 6.7 per cent, respectively, against previous forecasts of 7.2 per cent and 7 per cent.

Thailand could also witnesse further sluggishness in demand for its exports, as major economies are struggling to rebound.

The combined growth forecast for the major industrial economies - the United States (US), the euro area, and Japan - in 2015 is downgraded from the ADO 2015 projection of 2.2 per cent to 1.9 per cent, which still improves on growth in 2014 at 1.4 per cent. In the US, the strong recovery projected for this year is moderated by a slowdown in the first quarter from one-off disruptions. In Japan, the pace of domestic consumption and investment recovery has been slower than expected, prompting downgrades to forecasts for both 2015 and 2016. Meanwhile, in the euro area, the overriding risk of a threatened Greek default escalating into a crisis across that region has abated for now, providing a fillip to its growth projections for the next 2 years.

Meanwhile, domestic spending in Thailand remains low.

"Retail sales in Thailand improved over a year earlier but was still held in negative territory by mounting household debt, drought, flat private investment, and feeble consumer spending," ADB said in the update.

The situation in other countries in Southeast Asia remains unfavourable.

ADB noted that subdued economic growth in the major industrial economies and China weakened export demand. Thailand has yet to bounce back from its 2014 slump, while infrastructure investment has fallen behind schedule in Indonesia and the Philippines.

Drought in several countries, and floods in Myanmar, have hurt agriculture. Vietnam, by contrast, is growing faster than anticipated earlier this year, powered by foreign direct investment and buoyant private consumption.

On average, the region is expected to register 4.4 per cent growth rate in 2015 - the same pace as in 2014 but below the previous 4.9 per cent forecast.

Expected improvements in exports and infrastructure investment are seen lifting growth to 4.9 per cent in 2016.

Source: http://www.nationmultimedia.com/business/Thailands-economic-recovery-delayed-to-next-year-A-30269393.html


-- The Nation 2015-09-23

[soalbundy]

This wont be the last adjustment

[empireboy]

That's a huge drop. I wouldn't be blaming it on the China slow-down entirely! Thailand needs to focus on education. There's little chance for poorly educated countries to get ahead!

[HiSoLowSoNoSo]

I think it will be a recession here with the Great Fire Wall coming, I will soon relocate my factory to Cambodia or Vietnam, no long term stability here for investors.

[Srikcir]

"the region is expected to register 4.4 per cent growth rate in 2015" versus Thailand's 2.7%

It looks like Thailand will become the hub of economic failure.