New investment in 2nd half to hit Bt466 bn, says finance minister — THE ECONOMIC Steering Committee estimates that new investment from the public and private sectors in the current second half of the year will be worth Bt466 billion and provide more than 67,000 jobs, Finance Minister Apisak Tativorawong said after a meeting of the committee yesterday. (The Nation, 16/7/16)
Financial liberalisation call to woo investment — The government may need to exercise Section 44 of the interim constitution to tackle existing obstacles to the ambitious development of the Eastern Economic Corridor (EEC), says Kobsak Phutrakul, assistant minister to the Prime Minister’s Office. (Bangkok Post, 21/7/16)
Government Savings Bank to issue Bt30bn loans to SME. The purpose of the loans is to improve equipment and increase productivity. The bank will issue the loans through another 18 commercial banks with interest rate of 4% for 7 years. (Daily News, 21/7/16)
IMF slashes world growth forecasts AGAIN on Brexit curveball — The U.K’s vote to leave the European Union (EU) has pushed the International Monetary Fund (IMF) to cut its world growth forecast for this year and next. In its World Economic Outlook, published on Tuesday, the IMF forecast global growth at 3.1 percent in 2016 — 0.1 percentage points down on its April forecast, 0.3 percentage points lower than its January estimate, 0.5 percentage points below its estimate from October 2015 and 0.6 percentage points down on its forecast from July 2015. (CNBC, 20/7/16)
UK inflation rate rises to 0.5% after increases in air fare and the cost of petrol — Inflation, measured by the consumer price index, rose to 0.5 per cent in June after being stable at 0.3 per cent in May, according to the Office for National Statistics. (Independent, 16/7/16)
German business confidence falls to lowest level since November 2012 — German investor morale fell in July to the lowest level since November 2012 and much more than expected, a survey by German think tank ZEW showed on Tuesday. The Mannheim-based ZEW institute’s latest indicator of economic sentiment in Germany fell in July, to -6.8 points from 19.2 points in June. Reuters had expected the index to fall to 9.0 points. (CNBC, 20/7/16)
China Q2 economic growth beats estimates as stimulus shores up demand — China’s economy narrowly beat estimates Friday with a 6.7 percent expansion on-year in the three months through June, as a string of stimulus measures from the government and the central bank helped shore up demand. Economists polled by Reuters had anticipated a growth rate of 6.6 percent. (CNBC, 16/7/16)
UK unemployment rate falls to fresh 11-year low — The UK unemployment rate has fallen to 4.9%, the lowest since July 2005, according to official figures. The unemployment total fell to 1.65 million in the March-to-May period, down 54,000 from the previous quarter, the Office for National Statistics (ONS) said. (BBC, 20/7/16)
Jobless Claims in U.S. Unexpectedly Decline to Three-Month Low — The number of applications for U.S. unemployment benefits unexpectedly fell last week, reaching a three-month low, indicating the labor market remains steady. Initial jobless claims dropped by 1,000 to 253,000 in the week ended July 16, from an unrevised 254,000 in the prior period, a report from the Labor Department showed Thursday in Washington. The median forecast of 44 economists surveyed by Bloomberg called for 265,000. Continuing claims decreased. (Bloomberg, 21/7/16)
Draghi Signals ECB May Boost Stimulus Later This Year — Mario Draghi said the European Central Bank won’t hesitate to add fresh stimulus if needed once it has a clearer picture of the economic impact from the U.K.’s vote to leave the European Union. (Bloomberg, 21/7/16
