OIE says industrial growth will rise by 2.5% in 2016



BANGKOK, 30 December 2015 (NNT)-The Office of Industrial Economics (OIE) is confident the government's economic stimulus measures will drive industrial growth in 2016 by 2.5%.

OIE Deputy Director Weerasak Suphaprasert, said that industrial growth will be supported by several positive factors including the government’s stimulus measures and prices of export goods.

The International Monetary Fund (IMF) has forecast that the global economy will expand by 3.6% next year, a 0.2% increase from 2015. The Thai Baht is also likely to weaken while oil prices will remain relatively low in 2016.

Mr. Weerasak added, however, that there are risks that could affect such growth. They include the slow Chinese economy, which is expected to contract by 0.5% next year, drought crisis and the foreign capital outflow.

The auto industry is expected to do well next year. There will be a total of 2.1 million cars produced by the end of next year or a 10.2% increase. Around 1.2 million of them will be exported overseas.

-- NNT 2015-12-30

Could someone please suggest to Weerasak that he should see http://www.thaivisa.com/forum/index.php?/topic/882397-Thai-export-volume-continues-to-decline-11-consecutive-months.

Better still, could anyone recommend a good fortune-teller (as his current prognosticator seems to have well and truly lost the plot).

I think that his mother forget to teach him not to tell porky's .

Growth, aha, there it is

"The Office of Industrial Economics (OIE) is confident the government's economic stimulus measures will drive industrial growth in 2016 by 2.5%."

By "industrial growth" they mean GDP growth rate (ref. 2015-06-05).

Apparently OIE didn't get the memo from Deputy PM for Economic Affairs Somkid that "the Thai economy was projected to grow by 4 per cent next year." The Nation 2015-12-18

If BOT's predicted growth rate for 2015 of about 2.7% is correct (2015-12-16), then OIE is forecasting almost no change for 2016. Not good!