Thursday, August 10, 2017

FW: RHB | Thailand | Examining Thailand's Changing Consumption Patterns





Economic Research

10 August 2017



Economic Update




Examining Thailand’s Changing Consumption Patterns


Thailand’s retail sales index (RSI) accelerated 4.8% YoY in 5M17, however, that didn’t lift the optimism of corporate retailers. The divergence emerged as key drivers of the current growth cycle come from non-traditional sources, such as domestic tourism, financial products, and urbanisation gains. Also,     e-commerce trades might have taken away some businesses from brick-and-mortar retailers.


Nevertheless, with economic activities gaining momentum, coupled with a tightening job market and softening debt burdens, we expect private consumption growth to broaden in the latter part of the year and expand 4.2% in 2018, from an estimated +3.8% this year (+3.1% in 2016).



Economist:  Ng Kee Chou  | +603 9280 2179



To access our recent reports please click on the links below:


2 August: Energy The Key Driver Again As July CPI Ticks Up

2 August : June MPI Contracts Despite Strong Exports

1 August : Money Supply And Loan Growth Stable In June

21 July : Strong 2Q Growth Despite Slight Retreat In June

6 July : Central Bank Holds Rate, Lifts GDP Forecast

4 July : CPI Swayed By Global Oil, Consumer Demand Muted


Economic Team





Peck Boon Soon

Chief ASEAN Economics

+603 9280 2163

Vincent Loo

Malaysia, Vietnam

+603 9280 2172

Ng Kee Chou

Singapore, Thailand

+603 9280 2179

Rizki Fajar

Indonesia, Philippines

+6221 2970 7065

Aris Nazman Maslan

Malaysia, Vietnam

+603 9280 2184




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