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Mid · 23-11-2009, 12:42 PM

Thai economy shrinks 2.8%
Nov 23, 2009

BANGKOK - THAILAND'S economy shrank by 2.8 per cent year-on-year in the third quarter, signalling improvement on the previous quarter as export and tourism revenues pick up, official figures showed on Monday.

It was the fourth consecutive quarter in which gross domestic product (GDP) dropped, but was less severe than the 7.1 per cent and 4.9 per cent falls seen in the first and second quarters respectively.

'GDP was better because of good export and tourism figures and government policies to stimulate investments,' said Ampon Kittiampon, secretary general of the National Economic and Social Development Board that released the data.

The government has this year rolled out a 116.7 billion baht (3.35 billion dollar) supplementary budget focused on improving consumer spending and in late October began parcelling out a second stimulus package worth 1.4 trillion baht.

Mr Ampon said the board expected GDP to expand between 2.7 - 3.2 per cent in the fourth quarter and said its growth forecast for 2009 is now minus 3.0 per cent, having previously estimated that it could fall as low as minus 3.5 per cent.

'If export and tourism figures continue to be in good shape and the political situation is not serious, overall GDP could show a contraction of 3.0 per cent,' he told reporters. -- AFP

straitstimes.com

Milkman · 23-11-2009, 04:40 PM

^ Thanks, Mid.

So, for you folks on the ground in LOS, how are things, in general?

I mean, I know in general: but....give me some details.

Moonraker · 23-11-2009, 04:47 PM

Two friends of mine each work for a different recruitment agencies here in Bangkok and they both say that business is sloooow for Thai placements, whereas foreigner placements are all but non-existant.

23-11-2009, 12:42 PM	#1 (permalink)
Mid Nautical Member Join Date: Aug 2007 Posts: 15,802	Q3 : Thai economy shrinks 2.8% Thai economy shrinks 2.8% Nov 23, 2009 BANGKOK - THAILAND'S economy shrank by 2.8 per cent year-on-year in the third quarter, signalling improvement on the previous quarter as export and tourism revenues pick up, official figures showed on Monday. It was the fourth consecutive quarter in which gross domestic product (GDP) dropped, but was less severe than the 7.1 per cent and 4.9 per cent falls seen in the first and second quarters respectively. 'GDP was better because of good export and tourism figures and government policies to stimulate investments,' said Ampon Kittiampon, secretary general of the National Economic and Social Development Board that released the data. The government has this year rolled out a 116.7 billion baht (3.35 billion dollar) supplementary budget focused on improving consumer spending and in late October began parcelling out a second stimulus package worth 1.4 trillion baht. Mr Ampon said the board expected GDP to expand between 2.7 - 3.2 per cent in the fourth quarter and said its growth forecast for 2009 is now minus 3.0 per cent, having previously estimated that it could fall as low as minus 3.5 per cent. 'If export and tourism figures continue to be in good shape and the political situation is not serious, overall GDP could show a contraction of 3.0 per cent,' he told reporters. -- AFP straitstimes.com __________________ "Keeping quiet while monks and other peaceful protesters are murdered and jailed is not evidence of constructive engagement." - Arvind Ganesan, Human Rights Watch. "I think...I think it's in my basement. Let me go upstairs and check" - M.C. Escher

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23-11-2009, 04:40 PM	#2 (permalink)
Milkman Gone Off Join Date: Dec 2005 Location: shelf Posts: 17,220	^ Thanks, Mid. So, for you folks on the ground in LOS, how are things, in general? I mean, I know in general: but....give me some details.

23-11-2009, 04:47 PM	#3 (permalink)
Moonraker Chiang Dao Last Online: Today 12:48 PM Join Date: Feb 2009 Posts: 583	Two friends of mine each work for a different recruitment agencies here in Bangkok and they both say that business is sloooow for Thai placements, whereas foreigner placements are all but non-existant.

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