Krungthai Research cuts Thai GDP forecast to 0.5%
Krungthai Bank’s Compass Research Centre has cut its forecast of Thai GDP growth this year from 0.9 per cent to 0.5 per cent.
The cut was in response to the longer-than-expected Covid-19 crisis, the research house said, citing the high number of daily infections.
Thailand’s daily caseload has risen above 20,000 in recent weeks.
Exports continue to expand at a monthly average of 14 per cent while the tourism boost over the last two months would help support 0.5 per cent growth this year, said the centre.
However, it warned the Thai economy is still highly vulnerable to the virus situation. As such, the manufacturing sector requires careful handling to maintain production during the epidemic so that demand from the global market could be met, it added.
