Thai economy at its lowest in 18 years

According to Bangkok Poll, conducted by Bangkok University, Thai economists believe that confidence in the country’s economy is at its lowest in 18 years, but that it will improve in 3-6 months’ time.

The Bangkok Poll was conducted among 72 economists from 32 leading organizations, and asked about their opinions on the Thai economy over the next 3-6 months.

The poll revealed that the confidence index is currently at 28.41, indicating that the economy is at its weakest point in 18 months.

It is thought that this is as a result of declining confidence in the nation’s export levels, as well as in private investments and a drop in foreign tourists; all of which stems from the devastating floods in 2011 and the terrorism alert issued by the American Embassy in Thailand at the beginning of this year.

As for the general sentiment in the Thai economy in the next three months, the index stands at 63.41; moving up to 72.19 for the next six months.

Factors contributing to a better economic climate in 3-6 months, the economists say, include government spending and private investments; while export is said to have the least influence on the economic drive.

(nnt)

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