What happened this week 04.03.12 to 08.03.12

Positive(s)

Thailand

  • Inflation slows for second month on subsidies, baht — Inflation slowed for a second straight month in February as government subsidies held down prices and a strong baht made imports cheaper while food prices well. Commerce Ministry figures show annual headline inflation rose by 3.23% YoY last month, down from 3.39% In January and against 3.63% in December, which was the highest since November 2011. The Ministry has now started using 2011 instead of 2007 as the base year for calculating inflation. It has also increased the number of consumer items to 450 from 417. The ministry forecasts headline inflation of 3.3% in the first quarter and of 2.8-3.4% for all of this year. Last year it was 3.02%. (Bangkok Post, 02/03/13)
  • BoT to raise 2013 GDP forecast — The BoT is expected to revise its 2013 GDP forecast upwards to more than 5% at the next MPC meeting, which will be held on April 3. Stimulus measures in developed markets have racked up fund flows of US$7.6trn which is expected to flow into emerging markets, including Thailand. (Krungthep Turakit, 05/03/13)
  • Consumer activity quickened in January — The Thai economy in January remained on course for growth, driven by household consumption and exports, says the government’s planning unit. Household consumption in January grew by 6.8% YoY, up from 3.5% in December, the NESDB said yesterday. Private investment grew by 22%, while car sales rose 36.5%. Customs-based exports were US$17.92bn in January, up 15.6% YoY after 13.6% growth in December, boosted by a surge in shipments of cars, electronics and electric appliances. The NESDB said global economy recovery, especially in the US, EU and Japan, has raised demand. (Bangkok Post, 06/03/13)
  • Consumer confidence reaches its highest level in 19 months – Consumer confidence last month reached its highest level in 19 months, driven mainly by economic expansion, fiscal stimulus and higher purchasing power, according to the Centre for Economic and Business Forecasting (CEBF). (The Nation, 08/03/13)

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