TCC center for business forecasting sees Thai economic recovery becoming more pronounced in 2 years

 

BANGKOK, 22 December 2016 (NNT) – The Economic and Business Forecasting Center of the University of the Thai Chamber of Commerce is predicting that nation’s economic recovery will become more pronounced over the next 2 years as infrastructure investment, tourism and the minimum wage rise. 

The center believes that increased government spending, travel and minimum wage rates will lead to higher consumption as well as that the export sector will return to growth averages of 1.4 percent by next year, supporting national economic expansion of 3.6 percent. It has however acknowledged the risk of the US’s incoming president and uncertainty in global trade. It has recommended that Thai businesses and consumers look inward to weather the circumstances. 

Meanwhile, a survey by the center on the top 10 business trends pointed out medical and beauty businesses are still the most popular for a sixth year followed by cosmetics, E-commerce, travel and telecommunications, construction, logistics, finances, insurance, electronics maintenance and legal consultancy. 

Businesses losing favor in Thailand include handicrafts, print media, video rental, furniture and farm machinery.

 

-- nnt 2016-12-22

 

The "recovery" depends on whether the current government continues to make Thailand look less desirable than its neighbors and stops crippling local businesses. 

2 hours ago, webfact said:

Thai Chamber of Commerce is predicting that nation’s economic recovery will become more pronounced over the next 2 years as infrastructure investment, tourism and the minimum wage rise. 

Now I know where all the seized weed is going. 

Gives them a nice grace period to continue to screw everything up. Somehow I feel like another announcement will be made in 2 years that the recovery is still 3 years away...

3 hours ago, webfact said:

Businesses losing favor in Thailand include handicrafts, print media, video rental, furniture and farm machinery.

Shouldn't farming be added to this list?

Strange, a chicken told me that too

 "It has however acknowledged the risk of the US’s incoming president and uncertainty in global trade". 

 

Same old cop out excuses. It is always someone else's fault the Thai economy is lagging behind every other ASEAN economy.

Eonomic growth now predicted to be 2.8%. The lowest it has been for decades.

In the meantime the priorities of military economic wizards like the PM is concentrating on getting the lazy fat ass civil servants off their backsides to do a bit of exercise. 

There is no other country in the world where this could happen except North Korea.

Edited December 22, 20169 yr by Brer Fox

5 minutes ago, Brer Fox said:

The lowest it has been for decades.

Factually, GDP contracted six times within the last decade with the latest following the 2014 coup.

http://www.tradingeconomics.com/thailand/gdp-growth

In 2015 GDP growth was 2.5-2.7% (World Bank - Siam Commercial Bank) or 2.8% (BOT) so 2016 is likely unchanged from 2015 despite the billions of baht spent by Prayut's government to stimulate the economy.

2 minutes ago, Srikcir said:

Factually, GDP contracted six times within the last decade with the latest following the 2014 coup.

http://www.tradingeconomics.com/thailand/gdp-growth

In 2015 GDP growth was 2.5-2.7% (World Bank - Siam Commercial Bank) or 2.8% (BOT) so 2016 is likely unchanged from 2015 despite the billions of baht spent by Prayut's government to stimulate the economy.

The next interesting figure will be the budget deficit for next year. In the last PM's budget it was 390 billion baht. That has been blown to hell with infrastructure spending and rice subsidies.

TCC's head forcaster in work.

13 hours ago, Brer Fox said:

That has been blown to hell

Thats what the military are good at.