RHB | Thailand | Consumer Demand Hobbles As Government Braces Balance Sheet For Massive Infrastructure Spending In FY2016

Economic Research	01 July 2015
Thailand
Economic Outlook
Consumer Demand Hobbles As Government Braces Balance Sheet For Massive Infrastructure Spending In FY2016 Thailand’s real GDP growth picked up in 1Q 2015, but the momentum of recovery remains weak. We forecast GDP growth to slow to 1.9% y-o-y for 2H, from an estimate of +3.5% in 1H but still end higher at 2.7% in 2015, improving from +0.9% in 2014. Despite the likely absence of any mega projects this year, we feel public investment will continue to drive economic growth, but weak private consumption and exports remain a drag on the economy. Economist:  Peck Boon Soon  | +603 9280 2163 Economist:  Ng Kee Chou | +603 9280 2179
To access our recent reports please click on the links below: 25 March 2015: Economy To Recover In 2015 With Subdued Price Pressure 27 November 2014: Growth Subdued But Outlook Expected To Improve 18 September 2014: Growth to Pick Up In 2H 2014, Albeit Gradually