SCB EIC predicts CLMV economy expansion in 2024 due to export and tourism recovery, improving economic conditions and labor market recovery, but faces challenges like high non-performing loans and geopolitical risks. Key Takeaways SCB EIC forecasts that the CLMV economy will continue to expand in 2024, driven by the recovery of exports and tourism, which […]
China and Germany saw a decline in direct investment in 2023, attributed to global economic uncertainty and policy changes. However, key industries like automotive remain attractive for investors. FDI outflows from Germany to China decreased by 30%, but actual use of foreign capital from Germany to China increased by 21% according to MOFCOM. The Deutsche […]
Q4 2023 GDP grew 8.4% y-o-y based on expenditure data, but 6.5% based on production data. We predict a slow economy in the upcoming quarters due to prolonged Red Sea disruptions. Key View The economy grew by 8.4% y-o-y in Q4 2023 according to expenditure data but production data show a 6.5% rise in GDP […]
China has directed 12 banks to provide financing to Vanke Group, a troubled state-owned real estate firm, as the government changes course from letting indebted developers fail. Government Intervention for Vanke Group China has enlisted 12 banks to provide financial support to state-owned real estate firm, Vanke Group, in a departure from its recent strategy […]
Thailand’s economy struggles to recover post-pandemic, with slow GDP growth. Government implements short-term cash payments and debt relief, along with long-term policies like free trade agreements and industrial changes. Thailand’s Economic Slowdown Thailand’s economy is struggling to recover from the impact of the COVID-19 pandemic, with slow growth in GDP and GDP per capita. Unlike […]
Consumer spending in Thailand is expected to be positive in 2024, driven by economic recovery and high consumer confidence. However, high household debt and interest rates are potential risks to this outlook. Key View: We hold a positive outlook for consumer spending in Thailand over 2024, as the wider Thai economy recovers and growth figures return […]
SCB EIC revised Thailand’s 2023 growth forecast to 2.6% due to lower GDP and slow recovery of Chinese tourists. 2024 growth expected at 3.0%, with concerns about slow recovery and uncertainties. The report proposes enhancing policies. Thai policy rate expected to remain at 2.5% throughout 2024. Global economy expected to slow down to 2.5% in […]
Asia Pacific’s robust growth continues despite a challenging global economy. Developing Asia’s growth forecast in 2023 is revised upwards to 4.9%. The region’s inflation is expected to decrease to 3.5% in 2023. Asian Development Bank Revises Down Forecast for Thai Economy The Asian Development Bank (ADB) has revised down its forecast for the Thai economy […]