Thailand Economic Outlook
October 18, 2016On 13 October, Thailand’s King Bhumibol Adulyadej died at the age of 88, after a 70-year reign. The mourning ceremonies for the much-loved king will take one year and the coronation of his successor, Crown Prince Maha Vajiralongkorn, is not expected before the end of the mourning period. The popular monarch was seen as a provider of stability in the politically divided country and his death leaves a void. This increases the risk of turmoil at a time when the development of the balance of powers under military rule is already causing uncertainty, but so far there are no signs of a political crisis. Prior to the tragedy, economic activity in Thailand had continued to accelerate softly. Manufacturing and exports rebounded strongly in August but the current state of mourning and the downbeat atmosphere are likely to drag on growth.
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|Bond Yield||2.14||-0.47 %||Oct 21|
|Exchange Rate||35.06||0.55 %||Oct 21|
|Stock Market||1,500||0.51 %||Oct 21|
Thailand Economic Growth
October 18, 2016Until clarity emerges on the transition, domestic sentiment is very likely to be subdued, but it is largely expected that the military junta will provide fiscal stimulus to avoid a serious downturn. Some analysts are still considering the impact of the king’s death on the economy and the current forecast is for GDP to grow 3.2% in 2016, which is unchanged from last month’s estimate. For 2017, the panel projects that the economy will also expand 3.2%.
Thailand Economic News
October 17, 2016
On 13 October, Thailand’s beloved King Bhumibol Adulyadej died after a 70-year reign and his successor, Crown Prince Maha Vajiralongkorn, has declared his wish to wait until he ascends the throne.
October 4, 2016
In September, consumer prices inched up 0.04% from the previous month, which contrasted the 0.04% decrease observed in August and overshot market expectations of a 0.1% increase.
September 30, 2016
In August, the trade balance recorded a USD 2.1 billion surplus, which was above the USD 0.7 billion surplus observed in the same month of the previous year and was also higher than the USD 0.8 billion surplus registered in July.
September 30, 2016
In August, manufacturing production increased 3.1% over the same month last year, which was a sharp upswing from the 5.0% contraction seen in July and marked the highest reading in over three years.
September 14, 2016
At its 14 September monetary policy meeting, the Bank of Thailand (BoT) decided unanimously to keep the one-day repurchase rate at 1.50% as the markets had expected. In its press release, the Bank commented that the Thai economy had accelerated in the second quarter on the back of strong private consumption and resilient public expenditure.