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18 Oct 2022

Econ Digest

KR-ECI stabilized in September 2022 due to stable commodity prices…Flooding raises concerns about income and employment


        The KR Household Economic Condition Index (KR-ECI) and 3-month Expected KR-ECI remained stable at 33.9 and 35.2 respectively in September 2022. The stable energy prices have resulted in household’s better perspective towards product prices in several categories, except for food and beverages, in which household concerns have increased. In addition, the heavy rains that caused floods in many areas and damage to agricultural areas, have increased concerns among households about income, employment and the increase in expenses following the impact of flooding. According to an additional survey on the impact of the flooding, it was found that 19.2% of households surveyed had incurred expenses over THB5,000 (the survey was conducted during September 21-17, 2022)

        Looking forward, the economic recovery and household livelihoods still face many key risk factors, including product prices, which have started to slow down but remain at a high level, especially energy prices. In addition, the flooding in many parts of the country should still be monitored, as it is now beginning to cause damage to agricultural outputs and households’ livelihood and put pressure on household purchasing power. Meanwhile, the government’s economic stimulus measures, both the “Co-payment” scheme and the “We Travel Together” scheme, will end on October 31, 2022. However, the continued easing of cross-border travel measures that will boost the number of foreign tourists, plus the government’s economic stimulus measures such as the tax deduction measure that may be launched in the second half of the year, will have a positive effect on income and employment.

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