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15 Jun 2020

Thai Economy

May KR-ECI Improves over that Reported in April First and Second Phases of Easing Restrictions Cause Households to be less Concerned about Income and Employment

    • The KR-ECI increased to 36.1 in May 2020, over 35.1 reported for April 2020 because households were less concerned about income and employment after the government gradually introduced the first and second phases of easing the country's lockdown for businesses classified in the “White" and “Green" groups so that they could resume operations as usual in May 2020.
    • The 3-month Expected KR-ECI also improved in May 2020 in alignment with the KR-ECI as households viewed that easing lockdown measures gradually introduced by the government, and the low number of new COVID-19 cases represented positive signs for the Thai economy, going forward.    
    • KResearch views that economic and living conditions of Thai households will recover at a slow pace during 2H20, though they will remain extremely fragile (on an assumption that there will be no second wave of the COVID-19 pandemic, which prompts the government to introduce lockdown measures again). However, the government must accelerate the implementation of measures, aimed at shoring up the economy and employment so as to sustain purchasing power of Thai households after relief measures have expired. ​


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