Thai economic growth slowed to a seasonally adjusted 0.7 percent quarter on quarter in the second quarter. Year on year GDP grew by 5.3 percent, below the revised 6.1 percent in the first quarter.The state planning agency raised its full-year growth forecast to 5.2-5.7 percent from 4.5-5.5 percent predicted in May due to healthy exports in the first half and an expected boost from government stimulus measures in the second half. The underlying reasons for the slowdown have been the inflation situation together with the continuing political uncertainty, both factors which weigh on consumers and investment.The National Economic and Social Development Board (NESDB) now expects inflation to hit a 10-year high of 6.5-7.0 percent in 2008, up from 5.3-5.8 percent forecast in May, but below a 7.5-8.8 percent projection by the Bank of Thailand in July. Despite the slowdown it seems unlikely ...

Thailand's consumer confidence rose in July for the first time in four months as easing oil prices and government measures to help the poor cope with inflation boosted sentiment. The index climbed to 71.8 from 70.8 in June, the University of the Thai Chamber of Commerce said in Bangkok today. The government said inflation peaked for the year in July, when oil prices started to fall from record highs. Policy makers have announced economic-stimulus packages and pledged to try to expand the economy by 6 percent this year follwing a 4.8 percent rise in 2007. The government on July 15 announced a plan to cut excise taxes for fuel, offer free electricity and water to low-use households, and waive fares for cheap bus and train seats in a six-month program that will cost 46 billion baht ($1.4 billion). The measures aim to reduce the burden ...

by Claus Vistesen: Copenhagen Executive Summary Thailand's economy grew at 4.8 percent in 2007. Despite a number of factors affecting public sentiment - the political uncertainties, the imposition of capital controls in December 2006 (subsequently removed in March 2008), and the proposed amendments to the Foreign Business Act - net exports continued to provide the main support for growth while domestic demand has continued to remain weak. The Thai economy is expected to slow slightly in the second half of 2008, and then pick up speed again in 2009 as long as global energy prices continue to fall back somewhat from their June 2008 highs. Headline inflation had been on a downward path after peaking in mid-2006, but started to pick up in Q4 2007 on the back of escalating energy prices, and reached an annual rate of 9.2 percent in July. Core inflation has been lower, but has followed a similar trajectory, ...

Thailand's inflation accelerated to the fastest pace in a decade in July, suggesting the central bank may increase borrowing costs further to tame prices even as economic growth cools. Consumer prices gained 9.2 percent from a year earlier, the Commerce Ministry said today in Bangkok. The rate was the highest since July 1998. This was up from 8.9 percent in June. Surging oil and food costs may prompt Thailand's central bank to raise its benchmark interest rate for the second time in as many months when policy makers next meet on Aug. 27. Growth in Southeast Asia's second-largest economy is slowing amid legal challenges to the government that are sapping confidence.Core inflation, which excludes fresh food and fuel prices, accelerated to 3.7 percent in July, the Commerce Ministry said today. The pace, which exceeded ...

Is the U.S. falling into a recession or not? While there is some debate, the U.S. economy is clearly slowing down.

That certainly isn’t true across the Pacific Ocean. China just reported that its Q2 GDP grew by 10.4% and Thailand reported that economy grew by 5.9% in the first half of the year.

In the first quarter of 2008, Thai gross domestic product expanded 6.0% over the same period last year, which was above the 5.7% growth registered in the fourth quarter but in line with market expectations. The result continued the rising trend in place since the second quarter of last year and, in fact, constituted the fastest growth pace in two years.The improvement over the previous quarter was entirely due to a strengthening domestic sector, as the contribution of the external sector to the economy decreased compared to the third quarter. Both private consumption and investment accelerated compared to the final quarter of last year. Private consumption expanded a subdued 2.6% year-on-year, which was, however, up from the even more paltry 1.8% annual growth observed in the previous quarter. Investment accelerated from 4.0% annual growth in the fourth quarter to 5.4%....

Aaron Katsman IsraelNewsletter.com I posted yesterday about how a strengthening US Dollar could potentially benefit Israeli stocks that trade in the US. I was asked by some readers how come I think that the USD is poised for a rally? The answer…FIFO. FIFO is an accounting term that stands for ‘first in first out.’ With the global economy on the skids, the US was the first country to start having problems and with a vigilant Fed at the wheel, I think the US will return to normal growth in the next 6 months. After all, no recession occurred. The US has had no negative GDP growth quarters, and actually had a surprisingly good 0.9% GDP for Q1. Europe on the other hand, is just starting to show signs of a slowdown. I have heard analysts predicting a potential contraction of over 2% in European growth. That certainly ...

Thailand's economy grew at the fastest pace in seven quarters towards the end of last year as exports of rice, automobiles and computer chips all steadily rose. Southeast Asia's second-biggest economy expanded 5.7 percent in the fourth quarter, accelerating from a revised 4.8 percent in the third quarter, the government said today in Bangkok. Exports grew by 24 percent, almost double the pace of the third quarter, even as the baht's rise to a decade-high made them more expensive. Exports, which account for about 60 percent of the economy, accelerated from a 12.6 percent year on year rate of increase in the third quarter, according to central bank data. Exports reached a record $14.6 billion in November as demand from China and eastern Europe offset waning orders from the U.S. and Japan. Quarter on quarter gross domestic product expanded by 1.8 percent in the fourth ...

Well, a Merry Xmas and a Happy New Year to all my readers. Thank you for taking the time and trouble to pass-by. This blog will now - failing major and surprising new developments in the global economy - be offline till the end of the first week in January, or till after the festival of Los Reyes Magos in Spain (for those of you who know what this is all about). Come to think of it, maybe this is just what our ever hopeful central bankers are in need of even as I write - some surprise presents from the three wise men - but I fear that this year if these worthy gentlemen do somehow show at the next G7 meet, the star in the east which draws them will not be the one described in the traditional texts, but in all likelihood the ...

Guest post by Manuel Alvarez-Rivera, Puerto Rico, Election Resources on the InternetVoters in the Kingdom of Thailand went to the polls on Sunday, December 23, 2007 in the first parliamentary election held since the September 2006 military coup that overthrew the elected but increasingly authoritarian and allegedly corrupt government of Prime Minister Thaksin Shinawatra.Thailand's legislature, the National Assembly is composed of the Senate and the House of Representatives; the latter has 480 members, of which 400 are elected in 157 two- or three-seat constituencies, while the remaining eighty seats are filled in eight electoral regions by party-list proportional representation.Since a 1932 revolution brought an end to eight hundred years of absolute monarchy, Thailand has suffered numerous coups, and the country has alternated between intervals of at least nominal democratic governance and periods of military rule.The democratic interludes were often characterized by ...