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8 Aug 2019

Thai Economy

Household Concerns on Thai Economy pull KR-ECI for July 19 to 66-month low

           The KR-ECI slipped for the second month in a row from 43.1 in June to 41.5 in July 2019, which is the lowest level in 66 months, owing to household concerns on all economic aspects, particularly the issues of income and employment, expenses and debt burdens.

           The 3-month Expected KR-ECI also dropped from 44.9 in June to 43.9 in July 2019, consistent with the KR-ECI, mainly on account of household concerns on future debt burdens.

             ​KResearch views that the economic conditions and the cost of living will face more challenges in the last quarter of 2019, given that the Thai economic slowdown following the world economic situations has gradually impacted the real economic sectors, namely the domestic manufacturing and employment. As for the agricultural sector, the volume of outputs in the market after harvest at the end of 3Q19 is expected to decline as compared with 3Q18, due to delayed rainfall and low water levels in several reservoirs during the growing season. However, details of the economic stimulus measures expected to be launched by the government soon should be monitored, because such measures are hoped to support the overall economy during the last quarter of the year.​