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[webfact]

UTCC says CCI  rise to drive economic growth to 3.3%

 

 

BANGKOK: -- Consumer confidence index (CCI) for August has risen to 73.2, mainly from the public confidence of the country's economy and political climate.

 

The rise will help drive this year’s growth to reach 3.3%.

 

This was revealed yesterday by the University of the Thai Chamber of Commerce’s (UTCC) Centre for Economic and Business Forecasting.

 

According to the centre director Thanawat Polwichai, the consumer confidence index for August 2016 rose to 73.2 from 72.5 the month before.

 

He said this was a sustained two month rise correlating  with the Overall Economic Confidence Index – which also rose to 62.2; and the Future Economic Confidence Index for the next six  months which now stands at 75.3.

 

Reasons for the rise were attributed to the increased conviction of the general public that the economic, societal and political situation would significantly improve following the approval of the newly drafted constitution in the August referendum.

 

Full story: http://englishnews.thaipbs.or.th/utcc-says-cci-rise-drive-economic-growth-3-3/

 

-- © Copyright Thai PBS 2016-09-09

[Srikcir]

9 hours ago, webfact said:

UTCC says CCI  rise to drive economic growth to 3.3%

UTCC  predictions have been erratic at best and untrustworthy at worst:

13 January 2016 - exports would expand 2% this year

20 April 2016 - economic growth will drop to only 2.7-2.9% this year

12 May 2016 –the Thai economy will expand 3% this year while export growth will remain stagnant

28 June 2016 - Thai export growth to be -2% this year; full year growth prediction has been tempered to 2.9%

10 August 2016 -  forecast for exports this year will contract 2.1% from a 0.8% expansion earlier.

 

 

[Brer Fox]

Exports shrinking while imports grow. That is a direct reflection of the high value of the baht. 

Foreign investors have long fled.

Domestic investors plant their money outside Thailand where they can get growth and value for their investment.

Top ranking military and government officials hibernate their personal wealth overseas.

Zillions of baht of infrastructure spending will do nothing more than line the pockets of those who are "connected".

Military governments have no idea of economic management or fiscal discipline. 

The Thai economy is stuffed.

Edited September 9, 2016 by Brer Fox

[alfalfa19]

Do they just pull these figures off a ouija board,  or from some deeper and darker place? 

[HiSoLowSoNoSo]

"Reasons for the rise were attributed to the increased conviction of the general public that the economic, societal and political situation would significantly improve following the approval of the newly drafted constitution in the August referendum."

 

Joseph Goebbels couldn't have written this piece of propaganda better!

 

 

[NongKhaiKid]

Public confidence of the country's economic and political climate !

As far as the political situation is concerned is he basing this on highly suspect opinion polls as nobody really knows what the public thinks since it's illegal to speak out if the content is negative.

So called ' Confidence ' is very questionable but assured under the current situation