Thai economic slowdown

Mounting political tensions fuel economic slowdown
http://enews.mcot.net/view.php?id=9302

BANGKOK, April 1 (TNA) – The Thai economy is expected to worsen if the ongoing
political confrontation heats up, according to the Bank of Thailand (BoT).

Senior Director Amara Sripayak of the central bank’s Local Economy Division,
said the mounting political tension had impacted the country’s economic
conditions

A survey of opinions of entrepreneurs in the business sector showed they remain
concerned with the political situation. The indexes on business confidence at
present and in the future in February stayed 37.4 and 41.8 respectively.

The figure below 50 reflects concerns by the entrepreneurs over economic
uncertainties.

She said the economy in February continued contracting while some economic data
had improved. It showed the economy is in equilibrium.

Thailand’s industrial output increased 1.9 per cent because industries involved
in some areas of production for export—such as electronics—began to pick up.

Overall, however, exports continued shrinking by 11 per cent with a total listed
value of US$11.58 billion while imports contracted by 43.5 per cent with a value
of $7.64 billion, resulting in a trade deficit of $3.95 billion.

However, Mrs. Amara said the government’s efforts to accelerate budget
disbursements and stimulate the economy would help ease the private-sector
consumption slump of 7.1 per cent and the investment contraction of 12.9 per
cent. (TNA)

Business News : Last Update : 08:57:58 1 April 2009 (GMT+7:00)