Exports see marginal rise in 2016. Thailand’s exports rose for a second straight month in December, enabling the performance in 2016 to eke out a marginal growth of 0.45% in 2016, ending three years of contraction. (Bangkok Post, 25/1/17)
Big-ticket infrastructure projects get PPP go-ahead. Seven big-ticket infrastructure projects worth 712 billion baht under the public-private partnership programme are set to start this year after they were endorsed by the Public-Private Partnership (PPP) Committee yesterday. (Bangkok Post, 26/1/17)
Benefit hike for retirees considered. The Fiscal Policy Office (FPO) is considering increasing the living allowance for the elderly by 100 baht per month to improve quality of life after retirement. (Bangkok Post, 26/1/17)
BoT predicts more balanced recovery. A broader-based recovery is expected this year from stronger agricultural and export sectors and more government spending in provincial areas, says the governor of the central bank. (Bangkok Post, 27/1/17)
US: Trans-Pacific Partnership: Government ‘flat out’ to revise TPP deal without Donald Trump’s support. The Federal Government will seek a revised Trans-Pacific Partnership (TPP) trade deal without support from US President Donald Trump, claiming it will still bring “tremendous” benefits to exporters. A White House statement issued soon after Mr Trump’s inauguration confirmed he would not ratify the agreement, which he has previously described as a “potential disaster” for the US economy. ( ABC, 23/01/17)
China’s industrial production sees steady increase. The National Bureau of Statistics announced on Friday that the added value of industrial enterprises above designated size defined as tate-owned and non-State-owned – industrial companies with annual revenue of over 20 million yuan ($2.9 million)－ rose 6.0 percent year-on-year in 2016, the same as that in the first three quarters. ( China Dail y, 21/01/17)
China’s Q4 GDP up 6.8% on-year, beating expectation for 6.7%. China’s gross domestic product (GDP) grew 6.8 percent on-year in the fourth quarter, slightly beating expectations and signalling growth was stabilizing. The world’s second-largest economy had been forecast to grow 6.7 percent in the quarter, according to a Reuters poll of 42 economists. (CNBC, 19/01/17)
Japanese Exports Turn Positive After 14-Month Slump. Exports rose 5.4 percent in December 2016 from a year earlier. Imports fell 2.6 percent over the same period. The trade surplus for December was 641.4 billion yen ($5.6 billion). (Bloomberg, 25/1/17)
China committed to RCEP. “China will forge ahead with the negotiation of the Regional Comprehensive Economic Partnership (RCEP) and the construction of the Free Trade Area of the Asia-Pacific (FTAAP) so as to add new impetus to regional and global economic development,” said Foreign Ministry spokesperson Hua Chunying at a daily press briefing. U.S. President Donald Trump Monday signed a memorandum ordering withdrawal from the Trans-Pacific Partnership (TPP). (Xinhua, 24/1/17)
U.S. services PMI expands at fastest pace in more than a year. Activity in the U.S. services sector increased its expansion in January, rising to more than a one-year high and bolstering optimism over the state of the U.S. economy, according to preliminary data released on Thursday. In a report, market research group Markit said that its flash services purchasing managers’ index (PMI) rose to 55.1 in January, from the prior month’s reading of 53.9. That was its fastest expansion since November 2015 . (Investing, 27/1/17)
