Lowering interest rates indicates Thailand's economic slowdown

[webfact]

Lowering interest rates indicates economic slowdown



BANGKOK: -- The Center for Economic and Business Forecast says the cutting of interest rates by banks has signalled that the country is now facing economic slowdown.

Thanawat Polwichai, the director of the Center for Economic and Business Forecast with the University of the Thai Chamber of Commerce, said that the lowering of interest rates is a clear indication of the economic slowdown in the country.

This is reflected by the drop in consumer confidence index which has fallen from 74.7 last month to 73.5.

This drop is a sustained three month contraction and is the lowest in a five month period, he said.

He speculates that consumers are becoming increasingly concerned over the slow recovery of the economy and the increasing severity of the national drought crisis which has forced exports to falter.

He said best estimates for Thailand’s economic growth in 2016 now stands at only 3 % and an official revision of this figure is expected to be made later in the month.

Source: http://englishnews.thaipbs.or.th/content/158461

-- Thai PBS 2016-04-06

[thai3]

I thought the figure forecast for growth was 0-2% ? they seem to just pluck numbers out of the air

[Thian]

But Thailand had to most tourists ever and this year even more! They also sold all the rotting rice and all fish they could catch.

[Hawk]

The economy is declining not slowing down, declining. There is absolutely no slow recovery as suggested by certain people. The country took the wrong turn 2 years ago and is now forced to pay the price.

So many welcomed this military government why didn't they see what a mess the 2006 military government made of the economy! Too late now, soon the economy will beyond repair.

[petermik]

Devalue the Baht

[BuaBS]

Revalue the Baht and make imports cheaper ... so there is actually something worth to buy.

[ozyjon]

I saw the light a few years ago and moved.

From Hawk,,, soon the economy will beyond repair

lets hear from all wanting to sell up and move to Thailand

buy land and a house burn all bridges behind them.

I'll start playing the worlds smallest violin for you.

[topt]

I thought the figure forecast for growth was 0-2% ? they seem to just pluck numbers out of the air

That was the figure for export growth only.

[RBOP]

I saw the light a few years ago and moved.

From Hawk,,, soon the economy will beyond repair

lets hear from all wanting to sell up and move to Thailand

buy land and a house burn all bridges behind them.

I'll start playing the worlds smallest violin for you.

tumblr_nbayp43lWv1tuk7i7o1_500.jpg

where did you move from and to where? What was the light? Edited April 6, 2016 by RBOP

[connda]

Interest rates and central banks are not indicators of economic slowdown or health. The elites globally are simply harvesting what is left of the wealth of the 99%. Thailand is just a little behind the curve.

[Prbkk]

I thought the figure forecast for growth was 0-2% ? they seem to just pluck numbers out of the air

In fairness I believe that was exports, this is GDP. You are right about the plucking.

[Prbkk]

Devalue the Baht

The lower interest rates should force the Baht lower; problem is every other country is trying to lower exchange rates at the same time.

[Srikcir]

best estimates for Thailand’s economic growth in 2016 now stands at only 3% and an official revision of this figure is expected to be made later in the month.

Eventually approaching the World Banks March 2016 prediction that Thailand's GDP growth will be just 2%. That represents a contraction from actual growth of 2.5% as per World Bank or 2.8% as per Prayut government for 2015. In any case a growth rate of less than 3% for 2016 will reflect a significant failure of the Prayut government to uphold economic sustainability for the nation.

[Praematura]

They won't devalue the Baht yet because think about all the elites that make loads of cash and are moving money out a historic rates. If the Baht was devalued they couldn't buy as many assets overseas. Think about all the corrupt folks that been on the tit for the last two years that need to move their cash after the requisite parks, subs, etc are completed.

[PlastikbinLina]

So, to make imports cheaper you want to raise the value of the Baht? But lower the Baht and Thai exports should improve. Which would you prefer?

[PlastikbinLina]

So, to make imports cheaper you want to raise the value of the Baht? But lower the Baht and Thai exports should improve. Which would you prefer?

[Thian]

Revalue the Baht and make imports cheaper ... so there is actually something worth to buy.

And stop with those importtaxes, it's much cheaper to buy qualitygoods overseas.

[Hawk]

Revalue the Baht and make imports cheaper ... so there is actually something worth to buy.

And stop with those importtaxes, it's much cheaper to buy qualitygoods overseas.

Most products are made overseas anyway. Your computer, laptop, tablet, mouse, keyboard etc. Your smartphone comes from China or Korea. Thailand makes what, clothes?

Quality goods like what? A Rolex? Unnecessary crap.

[flossiebear]

Have escaped back to UK where my property has continued to rise in rental and sale value . Thailand is done for culturally and economically. The only people left are those that have burned their bridges and can't go home. The Thai people are struggling, I saw it in their faces, what can they do with a Juntaland, and the money grabbing elite. It is selling its soul to the Chinese. The sooner he is ousted the sooner Thailand can return to its roots.

[tomwct]

Remember, 15% of Thailand's Economy was Corruption Monies from the government. I am sure there is still corruption, but lets say

10% of corruption has been stopped and only 5% of the governments monies is being stolen. That's still a 10% reduction in

Thailands economy. That money will be missed in the economy! I see a huge slow down in purchases of shop houses, which the

corrupt use to buy sight unseen.

[RBOP]

So PLR in US is 3.5%. Canada is 2.7%. Japan is 0.95%. Thailand is 7%. At least in Canada because the PLR is so low everyone borrows and buy houses driving the price so high like in Toronto and Vancouver a small 1600sq.ft house is 1.3 million dollars. Thanks but I'll stay put here in Thaind where the food and living is far cheaper and better value.

[MaiChai]

Let's see: Thailand isn't an advanced economy so it doesn't invent or develop things that have a high value price. On the other hand it's not a cheap 3rd world place where you can make things cheaply. Thus where is the attraction for investors? Government needs to get smart about getting the economy going.

[Usual Suspect]

In the report the man's blaming the drought-crisis for the slow recovery...Thainess at it's best.