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12 Feb 2020

Thai Economy

KR-ECI Fell to a 6-Year Low in January 2020 COVID-19 Outbreak Steepens Risk to Cost of Living of Thai Households


    • The KR-ECI and 3-month Expected KR-ECI slipped to the lowest level in 72 months. The households surveyed were worried about all aspects related to the cost of living now and over the next three months, in particular income and employment amid clearer signs of job cuts and rising domestic prices of goods in many categories, partly as a result of the coronavirus (COVID-19) outbreak in January 2020.  
    • KResearch views that economic conditions and the cost of living of Thai households during 1H20 will likely be affected by increased risks after the COVID-19 has spread internationally. Aside from rising healthcare expenses, the sluggish Thai economy and drought may dampen purchasing power of Thai households during 1H20. However, reductions in lending rates by commercial banks in response to the Monetary Policy Committee's policy rate cut may help ease debt burden of Thai households and businesses somewhat. ​

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