Thai rice exports grew +21.01% YTD (10.42mn tons), likely to hit a new high at 11mn tons in response to a rise in global demand. (Thai Post, 28/11/17)
FPO official: GDP rise of 4% in reach. All eyes on exports in final months of year. Thailand’s economic growth is likely to come close to 4% this year after robust momentum continued in October, despite low activity in the month as the country mourned the late King Bhumibol Adulyadej, says a key finance official. (Bangkok Post, 30/11/17
Ministry of Finance to speed up FY2018 disbursement, expected at 96% of total budget of Bt2.9trn. This consists of investment budget of Bt659bn with 88% of total investment budget for disbursement. (Thai Rath, 28/11/17)
October factory output rises 0.48% y-o-y, below forecast. Thailand’s annual industrial output rose for a fourth straight month in October, but much less than expected, as stronger production of rubber, car engines and processed food was offset by weaker output of air conditioners, jewellery and textiles. The manufacturing production index (MPI) in October rose 0.48% from a year earlier, the Industry Ministry said on Thursday. The median forecast in a Reuters poll was for a 3.2% rise. September’s index was revised to 4.88% year-on-year from a 4.23% rise reported earlier. In January-October, the index rose 1.38% from a year earlier. (Bangkok Post, 01/12/17)
BoT optimistic 4% growth obtainable. The Bank of Thailand has painted a rosy picture of the country’s economy, saying it is quite possible for fourth-quarter growth to exceed the 4.3% registered in the third quarter, adding full-year growth of 4% is obtainable if exports continue to rise at a double-digit pace . (Bangkok Post, 01/12/17
Second estimate of US Q3 GDP up 3.3%, vs 3.2% expected. The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, buoyed by robust business spending on equipment and an accumulation of inventories. Gross domestic product expanded at a 3.3 percent annual rate last quarter also boosted by a rebound in government investment, the Commerce Department said in its second GDP estimate on Wednesday. That was the fastest pace since the third quarter of 2014 and a pickup from the second quarter’s 3.1 percent rate. (CNBC, 30/11/17)
US new home sales surge unexpectedly, hitting 10-year high in October. Sales of new U.S. single-family homes unexpectedly rose in October, hitting their highest level in 10 years amid robust demand across the country. The Commerce Department said on Monday new home sales increased 6.2 percent to a seasonally adjusted annual rate of 685,000 units last month. That was the highest level since October 2007 and followed September’s slightly downwardly revised sales pace of 645,000 units. (CNBC, 28/11/17)
Chinese manufacturing expanded more than expected in November. China reported on Thursday that factory activity expanded at a quicker pace in November, with the official manufacturing Purchasing Managers’ Index coming in at 51.8 — topping expectations. Economists in a Reuters poll had expected official PMI in the world’s second-largest economy to come in at 51.4 this month, which would have been slower than the 51.6 posted for October. (CNBC, 30/11/17)
China November official services PMI rises to 54.8. Growth in China’s services industry picked up in November, an official survey showed on Thursday, as the sector continued to show solid expansion. The official non-manufacturing Purchasing Managers’ Index (PMI) rose to 54.8 from 54.3 in October. (Business Time s, 30/11/17
U.S. Business Activity Hits 4-Month Low in November. Business activity in the U.S. private sector eased in October, hitting a four-month low and dampening optimism over the American economy, according to preliminary data released on Friday. In a report, market research group IHS Markit said that its composite purchasing managers’ index (PMI), covering both the manufacturing and services sectors, fell to 54.6 in November, from the prior reading of 55.2. On the indices, a reading above 50.0 indicates expansion, below indicates contraction. (Investing.com, 24 / 11/17)
