10 August 2017
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
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2 August : June MPI Contracts Despite Strong Exports
1 August : Money Supply And Loan Growth Stable In June
Peck Boon Soon
Chief ASEAN Economics
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Ng Kee Chou
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Aris Nazman Maslan
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