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12 Nov 2019

Thai Economy

KR-ECI slips in Oct 2019 amid increased households’ concerns over Thai economy

         The KR-ECI in October 2019 dropped from 42.3 in September 2019 to 41.8 due to increased concerns of households over their income and employment, spending, savings and domestic product and service prices.

              The 3-month Expected KR-ECI - surveyed in October 2019 - slipped in line with the current KR-ECI from 44.4 in September 2019 to 43.5. In the next three months (November 2019-January 2020), Thai households will be more worried about their well-being in terms of spending (excluding debt burden), savings and prices of domestic products and services, partly attributable to the seasonal factor during the festive holidays when spending is higher than normal.

           KResearch views that Thailand's household and economic condition in the last quarter of this year will remain fragile, despite the government's efforts to implement measures to ease the household spending burden and stimulate their spending. However, these measures cannot offset the negative impacts from the slowing global economy, which has decelerated since early 2019, and its impact has gradually spilled over to economic activities and domestic employment. Nonetheless, the lending rate cuts by big commercial banks after the Monetary Policy Committee (MPC)'s decision to lower the policy rate should somewhat ease the household's debt burden and financial costs of the business sector.​


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Thai Economy