FW: RHB | Thailand | Loan Growth Continues To Ease

 

 

Economic Research			4 December 2017
Thailand
Economic Update
Loan Growth Continues To Ease   Thailand’s BM expanded +4.1% YoY in October, moderating from its +4.9% reading the month before, as private credit weakens. Net foreign operations and other sectors’ demand for credit increased 5% and 3.9% YoY, picking up from gains of 2.5% and 3.6% respectively in September, while government demand for credit declined at a softer pace. Going forward, expect BM to grow by 5.3% in 2018, on the back of stronger economic growth. We maintain our BM growth estimate at 5.2% for 2017, compared to +4.2% last year. Foreign demand would likely remain robust and private demand for credit should continue to gain momentum, lifted by rising domestic demand.   Economist:  Ng Kee Chou  | +603 9280 2179
To access our recent reports please click on the links below:   4 December: MPI Declines In October On Broad Weakness 23 November: Exports Maintain Momentum On Broad-Based Gains 21 November: GDP Tops 4% As Exports Surge 9 November: BoT Keeps Policy Rate At 1.5% As Economy Improved 2 November: CPI To Pick Up Following Stronger Economic Growth
Economic Team
Peck Boon Soon	Chief ASEAN Economics	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo	Malaysia, Vietnam	vincent.loo@rhbgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

                                                                                                                                    

 

 

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