Thai Manufacturing Production Index (MPI) shrank 3.6%YoY in September. Capacity utilization rate was at 58.83% compared to 60.97% during the same period last year, according to the Office of Industrial Economics (OIE). (IQ Biz, 30/10/15)
Thailand’s inflation remained on the downward trend in October, contracting 0.77 per cent from the same period last year, according to the Commerce Ministry. The Consumer Price Index rose by 0.2 per cent from September. In the first 10 months of this year, inflation contracted by 0.89 per cent on year. The ministry attributed low inflation mainly to low oil prices. Core inflation, excluding volatile fuel and food prices, increased by 0.95 per cent on year and 0.04 per cent from September. (The Nation, 2/11/15)
NBTC postponed AIS 2G-900MHz switch-off date. The decision follows its telecom committee’s resolution on Monday to put off the auction date of 900MHz licenses on the 900Mhz spectrum from November 12 to December 15. In a related matter, TOT’s labor union yesterday submitted a complaint against the 900 MHz license auction to the Prime Minister. The union will further seek an injunction at the central administrative court, if nothing happens. (The Nation, 4/11/15)
MPC keeps rate unchanged, as expected. The Bank of Thailand’s Monetary Policy Committee (MPC) voted unanimously yesterday to keep its policy interest rate unchanged at 1.5%, in line with the market’s expectation, reasoning a cut would heighten external downside risks. (Bangkok Post, 05/11/2015)
Eurozone inflation update: There isn’t any. Annual inflation in the euro area is up, and out of negative territory in October, but it still comes in at a big fat zero. The fact that the currency bloc is no longer in deflation takes a bit of the pressure off the European Central Bank to beef up its easing measures. But only a bit. The lack of a reaction in the euro to the news shows that traders and investors still think it’s close to a done deal. (FT 30/10/15)
December lift-off. U.S. Federal Reserve Chair Janet Yellen said Wednesday that the central bank may start raising short-term interest rates at its December policy meeting as the U. S. economy is “performing well.” The Fed expects “the economy will continue to grow at a pace that’s sufficient to generate further improvements in the labor market and to return inflation to our 2 percent target over the medium term,” Yellen testified before the House Financial Services Committee on financial regulation. (Xinhua, 05/11/2015)
German factory orders take unexpected dive. German factory orders slid by 1.7 per cent on the month in September, new data show, extending on the previous month’s shrinkage of 1.8 per cent and disappointing economists who had predicted a rise of 1 per cent. (FT, 05/11/15)
EU warns of more pain for Greece as forecasts cut. It now predicts that the economy will fall into recession this year, contracting by 1.3 per cent in 2016 before rebounding to grow 2.7 percent in 2017. Unemployment is also expected to remain stubbornly high, at close to 26 per cent until the end of 2016, interrupting the previous downward trend. (FT, 05/11/15)
Indonesia posts a third sub-5% quarter for GDP. Southeast Asia’s largest economy expanded by 3.21 per cent in the quarter, pushing its year-on-year rate to 4.73 per cent. These figures were just below estimates of 4.80 and 3.29 per cent, respectively. (FT, 05/11/15)
Government poised to fast-track 8 projects. The cabinet agreed Tuesday to fast-track 8 investment projects under the PPP program. Transport Minister Arkhom Termpittayapaisith said the ministry is pushing for the cabinet to include two high-speed train routs worth Bt246bn in the PPP fast-track program. (Bangkok Post, 4/11/58)
