Thailand Economic Outlook
July 17, 2018
Following a strong first quarter in which the economy grew at a multi-year high pace, second quarter data is also providing some good news, as domestic demand appeared firm in Q2 on the back of household spending. Growth in private consumption was elevated in April–May, while retail sales grew at a near double-digit pace in April. Private consumption is likely being buttressed by wage growth and improving consumer confidence, which reached its highest level in five years in June. Furthermore, manufacturing output expanded at a solid pace in April and May. On the downside, the PMI moderated in June on the back of a fall in new domestic and export orders, suggesting that growth momentum in the manufacturing sector eased in the same month.Thailand Economic Growth
Economic growth should accelerate this year thanks to firming domestic demand—with government consumption expected to increase in the lead-up to elections currently set for next year—and a strong tourism sector. However, the external sector will likely soften on higher oil prices and a large export base effect. Downside risks include a possible escalation of trade tensions between the U.S. and China, as well as further monetary tightening in the U.S. FocusEconomics panelists expect the economy to grow 4.2% in 2018, which is unchanged from last month’s forecast. The panel projects growth of 3.8% in 2019.Thailand Economy Data
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Thailand Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.63 | 0.0 % | Aug 15 |
| Exchange Rate | 33.29 | 0.17 % | Aug 15 |
| Stock Market | 1,676 | -1.41 % | Aug 15 |
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Thailand Economic News
Thailand: BoT stands pat in August
August 8, 2018
At the Monetary Policy Committee meeting of the Bank of Thailand (BoT), which was held on 8 August, the committee voted six-to-one to maintain the one-day repurchase rate at 1.50%.
Thailand: Inflation edges up in July
August 1, 2018
Consumer prices decreased 0.05% over the previous month in July, a softer drop than the prior month’s 0.09% decrease.
Thailand: Manufacturing production overshoots market expectations in June
July 31, 2018
Manufacturing output grew 4.7% year-on-year in June, which was above May’s revised 2.9% annual increase (previously reported: +3.2% year-on-year).
Thailand: Export growth remains strong in June despite escalating US-China trade tensions
July 23, 2018
Thailand’s trade surplus grew to a seven-month high of USD 1.6 billion in June, up from the USD 1.2 billion surplus registered in May, primarily due to softer import growth.
Thailand: Thai manufacturing production picks up pace slightly in May but undershoots expectations
June 29, 2018
In annual terms, manufacturing output grew 3.2% in May, up from the prior month’s revised 3.1% year-on-year growth rate (previously reported: +4.0% year-on-year).
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