Thread: July 2019 economy shows no recovery signs: TCC

BANGKOK,14th August 2019 (NNT) - The Thai Chamber of Commerce’s TCC Confidence Index in July 2019 showed no signs of recovery. The Chamber of Commerce is now expecting positive signs in Q4 2019.


The University of the Thai Chambers of Commerce’s Center for Economic and Business Forecasting (CEBF) Director Thanawat Polvichai, revealed today that the TCC Confidence Index survey in July, using 369 samples from Chambers of Commerce nationwide showed a continuous decrease for the 5th month from 47.1 in June to 46.7 in July, reaching a 13-month low since July 2018. The decrease in this figure indicates lower confidence in all sectors, including consumption, investment, tourism, agriculture, and industry.


Factors affecting the confidence index include the intensifying trade war between the U.S. and China; the drought disaster affecting farm products, and the Thai currency which has been appreciating continuously at the highest rate in Asia, affecting the economy and the export sector. Positive factors contributing to business confidence include more clarity in the forming of the new government, and the declaration of government policies including urgent measures to address the drought disaster. Overall, border and through-border trade in the first half of this year increased by 1.16 percent, and was worth 680 billion baht.


The TCC continues to project Thailand’s economic growth this year will be some 3.3-3.5 percent, adding that global economic developments will have to be closely monitored, and that positive recovery signs should emerge in Q4 this year.

National News Bureau Of Thailand

Originally Posted by misskit

Positive factors contributing to business confidence include more clarity in the forming of the new government,

No reason to even consider this. Anyone beyond the age of 5 knows with high confidence the new government would be formed as it has 20 times in the past.

Originally Posted by misskit

adding that global economic developments will have to be closely monitored,

In summary do nothing until it's too late.