Economic experts from leading institutions believe that the country’s economy is seeing a downward trend in the near future, according to Bangkok University’s research center.
The Bangkok University poll, conducted during 26-30 September, found that Thai economic index in the next three months would stay at 47.46, down from the previous forecast of 62.11 in July.
In the opinions of the respondents who were leading economists, the slowdown in the private sector’s consumption and investment, export, and tourism are major factors contributing to the downward forecast. Only the public sector’s spending and investment is believed to pick up during the next three months.
As for the next six months, the respondents predicted that the economic index would further slip to 45.14. However, domestic factors including consumption and investment in both the public and the private sectors are likely to pick up. Meanwhile, export and foreign tourist arrivals are likely to drop.
Despite the fall of economic forecast, the country’s economic status index is predicted at 53.95, indicating that the country’s economic status is still robust. The public sector’s spending and investment, exports and tourism remain a major boost to the country’s economy while the private sector’s spending and investments are found to weaken.