Economic Research | 22 August 2017 | |||
Thailand | ||||
Economic Update | ||||
Private Investment Returns, GDP Fastest In Four Years Thailand’s GDP rose 3.7% YoY in 2Q, from +3.3% the quarter before, underpinned by the return of private investment, increased government spending and higher merchandise exports. However, private consumption eased slightly, capping some of the upside. The latest data reinforces our belief that Thailand’s GDP would grow by 3.7% this year, from +3.2% in 2016. We view private investment as the key to unlock a more balanced growth in the coming years, with 4% as a base. Exports are expected to hold up in 2H, with economic recovery in the developed nations firming, and inflation remaining subdued. Although private consumption disappointed slightly, we envisage the slowing trend to reverse in 4Q after the cremation ceremony for the late King. Economist: Ng Kee Chou | +603 9280 2179 | ||||
To access our recent reports please click on the links below: 17 August: Interest Rate Unchanged Despite Strong THB 10 August: Examining Thailand’s Changing Consumption Patterns 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 | ||||
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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