Economic Research | 5 September 2017 | |||
Thailand | ||||
Economic Update | ||||
Money Supply Sees Uptick In July Thailand’s broad money (BM) accelerated to +4.5% YoY in July, supported by a smaller decline in public demand for credit. However, net foreign operations contracted and private demand for credit slowed, capping some of the upside. Going forward, we maintain our BM growth estimate of +4.1% for 2017, down slightly from 4.2% last year. Loan growth is expected to continue to tread at around its current pace, as small and medium enterprises (SMEs) are still under some pressure, and with new credit card limits set to come into effect in 4Q. However, stronger forecast economic growth this year, coupled with higher exports and gradually returning private investments, should help cushion some of the blow. Economist: Ng Kee Chou | +603 9280 2179 | ||||
To access our recent reports please click on the links below: 5 September: August CPI Picked Up On Higher Energy Cost 5 September: July MPI Rebounded On Automotive, F&B Gains 22 August: Softer E&E Shipments Weigh On July Exports 22 August: Private Investment Returns, GDP Fastest In Four Years 17 August: Interest Rate Unchanged Despite Strong THB 10 August: Examining Thailand’s Changing Consumption Patterns | ||||
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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