Consumer spending in Thailand is expected to be positive in 2024, driven by economic recovery and high consumer confidence. However, high household debt and interest rates are potential risks to this outlook. Key View: We hold a positive outlook for consumer spending in Thailand over 2024, as the wider Thai economy recovers and growth figures return […]
SCB EIC revised Thailand’s 2023 growth forecast to 2.6% due to lower GDP and slow recovery of Chinese tourists. 2024 growth expected at 3.0%, with concerns about slow recovery and uncertainties. The report proposes enhancing policies. Thai policy rate expected to remain at 2.5% throughout 2024. Global economy expected to slow down to 2.5% in […]
Asia Pacific’s robust growth continues despite a challenging global economy. Developing Asia’s growth forecast in 2023 is revised upwards to 4.9%. The region’s inflation is expected to decrease to 3.5% in 2023. Asian Development Bank Revises Down Forecast for Thai Economy The Asian Development Bank (ADB) has revised down its forecast for the Thai economy […]
Moody’s downgrades China’s credit outlook to negative due to financial strain on local governments and state-owned enterprises, leading to potential risks for economic growth and financial stability in the future. Moody’s Downgrades China’s Credit Outlook to Negative Financially challenged local governments and state-owned enterprises are becoming a significant risk to China’s future economic growth. This […]
China is leading a global surge in clean energy jobs, contributing over half of the growth. The International Energy Agency warns of emerging skill shortages. Energy jobs reached 67 million in 2022, growing by 3.5 million since 2019. Asia is leading in renewable energy investment and capacity. The Global Surge in Clean Energy Jobs The […]
Thailand’s exports increased in September for the second consecutive month, driven by higher shipments of agricultural and agro-industrial products. Rice shipments to South Africa and Indonesia played a significant role in the growth, but key markets like the US, Japan, and the EU remained sluggish. Overall, exports rose by 2.1% to $25.47 billion compared to […]
Indonesia’s fuel demand growth is expected to slow as the government aims to reduce reliance on fossil fuels, resulting in slower growth rates for transport fuels. Key View Indonesia’s long-term fuel demand growth is expected to slow as the government seeks to diversify away from fossil fuels. Demand for transport fuels showed slower growth rates […]
Cambodia’s real GDP growth is predicted to be 5.8% in 2023 due to a recovery in tourism. Inflation should ease and fiscal policy will support consumption and investment, although export growth may slow. Potential risks include slower growth in Mainland China affecting tourism and investment. Key View We forecast real GDP growth of 5.8% in […]