Thai private sector remains optimistic about economic growth

[webfact]

Private sector remains optimistic about economic growth



BANGKOK: -- The private sector remains optimistic about the country's economy although export growth has contracted 5% saying the last three months could see rise in tourist arrivals.

Assurance of the country’s economy was given as the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) met yesterday to discuss economic conditions.

The JSCCIB comprises Thai Chamber of Commerce, Federation of Thai Industries and Thai Banker’s Association.

At the joint meeting, all three powerful business organisations were confident of the economy.

They agreed economy will remain in a steady state although export growth has contracted 5.5 percent as a result of the global economic slowdown.

They said the export contraction was still lower when compared to other exporting countries.

On the tourism industry, they admitted that the sector was affected by the Ratchaprasong bombing with the number of foreign tourists in September declining to 2 million people, the lowest in 12 months.

However, they believed that the number of foreign tourists will rise and return to normal during the high season.

They voiced with confidence that local factors and confidence among the private sector will improve in the last three months of this year, due to the government’s short term economic stimulus measures.

JSCCIB will meet the government on Friday to discuss ways to speed up business activities to boost economy.

Source: http://englishnews.thaipbs.or.th/private-sector-remains-optimistic-about-economic-growth

-- Thai PBS 2015-11-04

[i claudius]

Thailand ,the hub of optamisam

[noitom]

The Thais are comparing and remaining. They're blaming the global economic slowdown for export contraction. Thais take no responsibility for their own ineptness. Thais admit no harm to export by human slaving and trafficking and no democratically elected civilian government. Thais admit no press or political stifling. None of these things are to blame for export contraction on;y the global slowdown.

[shirtless]

High season will save the Thai economy , they dont mention Thai fish products could be banned very soon from EU. Hopefully there will be change in business attitudes , but sadly it will only be words.

[Hawk]

The private sector remains optimistic about the country's economy although export growth has contracted 5% saying the last three months could see rise in tourist arrivals.

Well, imports have increased and as per every year, tourist arrivals will increase in November and December. So what's new?

[mommysboy]

The upbeat headline appears to be incongruous with the rather downbeat facts.

[jaywalker]

Thailand ,the hub of optamisam

I like the way you misspelled optimism..makes me think of miasma (can't see very well...I was born with it).

Here's an interesting article [snippet] I read today.

I never realized S. Korea's economy was as large as it is on the global stage

!

----------------------------------------

South Korea is flashing warning signs of a global recession...

South Korea is known as a “canary in the coal mine” for the global economy. The country is a major exporter of cars, mobile phones, and personal computers. It’s also the 11th-largest economy in the world. It has a bigger economy than Australia, Russia, Spain, or Mexico.

Last month, South Korean exports plummeted 15.8%. It was the country’s largest monthly drop since 2009. It was also the tenth month in a row that South Korean exports dropped from the previous year.

Many South Korean companies blame the huge drop in exports on China’s slowing economy. China is, by far, South Korea’s largest trade partner. The country sends 25% of its exports to China.

• China’s slowing economy is dragging down the entire region...

Last year, China’s economy grew at its slowest pace since 1990. And last month, China’s services sector grew at its slowest pace in seven years.

Source: http://www.caseyresearch.com/articles/stay-away-from-these-ridiculously-overpriced-restaurant-stocks

[gandalf12]

Thailand ,the hub of optamisam

Hub of stupidity would be more applicable. THey have to open their eyes and see the reality to know things are getting worse for Thailand

[waldroj]

Has anybody told JSCCIB that the country's farmers are hurtling into crippling drought while it’s fishing industry faces looming EU bans?

Or, do they simply choose to ignore the impact these may have on the economy.

One thing to be optimistic, totally different thing to be myopic!

[Vandadavid]

Everyone needs a good dream... Dreams come true sometimes

[Srikcir]

JSCCIB says "The private sector remains optimistic about the country's economy"

The JSCCIB hasn't got any projection right since the Junta took over the government. IMF recently said "Thailand’s private investment was being hampered by low capacity utilization, weak external demand, and concerns over political conditions.uncertainty, while private consumption was weakened by high household debt and tighter credit."

Look at the record:

- GDP growth continues to slow

- Exports continue to decrease

- Negative inflation continues downward for last 10 months

- Imports of capital goods, raw materials and semi-raw materials decreased by more than 20% year on year last month

- Imports see biggest decline in six years

- 62% of the CEOs did not expect any change or expect the economy to get worse

- Thai company registration down 13% this year

- Thai public debt is rising

- Average household debt this year the highest in ten years

- Thailand will trail ASEAN countries in GDP growth

Private Thai investors might do better to consider investing in other countries where there is less risk and more economic opportunity.