Minister of Finance expected GDP growth of 4% due to mid-year budget of Bt190bn and better exports growth. (Thai Post, 30/1/17)
BoT expects mortgage loan growth to slow down as a result of slowing demand and high household debt rather than banks’ tightening policy. (Bangkok Biz, 30/1/17)
FPO raises growth forecast for GDP. The Fiscal Policy Office (FPO) has painted a brighter outlook for the economy this year, raising its GDP growth forecast to 3.6% but marginally cutting its estimate for last year to 3.2%. (Bangkok Post, 31/1/17)
Consumer confidence hits 11-month high. Consumer confidence rose for a second straight month in January to the highest level in 11 months, driven by the government’s stimulus measures, improving exports and higher farm prices. (Bangkok Post, 3/2/17)
US jobless claims fall more than expected last week. The number of Americans filing for unemployment benefits fell more than expected last week, pointing to tightening labor market conditions that should support the economy this year. Initial claims for state unemployment benefits declined 14,000 to a seasonally adjusted 246,000 for the week ended Jan. 28, the Labor Department said on Thursday. (CNBC, 3/2/17)
Bank of England holds rates as expected, ups growth forecasts for 2017. The Bank of England (BOE) raised its near term growth forecast for the second successive meeting on Thursday, while keeping its benchmark rates on hold.The bank voted unanimously in its February meeting to keep interest rates at the record low level of 0.25 percent and keep its quantitative easing (QE) purchase targets at up to £10 billion ($12.6 billion) for corporate bonds and £435 billion for U.K. government bonds. (CNBC, 3/2/17)
Euro zone growth outpaces the US for the first time since the 2008 crash. The 19-membereconomy saw GDP (gross domestic product) growth of 0.5 percent in the last quarter of 2016compared to the previous three-month period, and the preliminary figures also showed a 1.8percent rise compared to the previous year. As a result, in the whole of 2016, the euro area grew1.7 percent. (CNBC, 31/1/17)
Q4 gross domestic product up 1.9% vs 2.2% estimate — U.S. economic growth slowed more than expected in the fourth quarter as a plunge in shipments of soybeans weighed on exports, but steady consumer spending and rising business investment suggested the economy would continue to expand. Gross domestic product increased at a 1.9 percent annual rate, the Commerce Department said on Friday in its first estimate of fourth-quarter GDP. That was a sharp deceleration from the 3.5 percent growth pace logged in the third quarter. (CNBC, 30/1/17)
Fed leaves interest rates unchanged, remains upbeat on economy. The Federal Reserve held interest rates steady on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the U.S. economy that suggested it was on track to tighten monetary policy this year. The U.S. central bank said job gains remained solid, inflation had increased and economic confidence was rising, although it gave no firm signal on the timing of its next rate move. Fed policymakers are still awaiting clarity on the possible impact of Trump’s economic policies . (Reuters, 2/2/17)
U.S. crude and distillate stocks rise sharply: EIA. U.S. crude stocks rose last week, along with gasoline and distillate inventories, the Energy Information Administration said on Wednesday, as refiners continued to let stocks build in a seasonally slow season for production. Crude inventories rose 6.5 million barrels in the week to Jan. 27, far exceeding analyst expectations for an increase of 3.3 million barrels. (Reuters, 2/2/17
