Tuesday, October 20, 2020

Virus impact easing for business: BOT survey

Jul 31. 2020
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By The Nation

Businesses are enjoying some relief from the impact of Covid-19, the Bank of Thailand said on Thursday (July 30), citing progress in economic reopening.

The central bank’s latest survey found businesses reported less impact in July after the fifth phase of lockdown easing.

A total of 297 large and small businesses were surveyed to reveal the pandemic’s affect on three channels – logistics, global supply chain disruption, and consumers’ behaviour shift.

On logistics issues, 21 per cent reported no impact in July, up from 17.2 per cent in June.

On global supply chain disruption, 33.4 per cent reported no impact, up from 25.9 per cent in June.

On consumers’ behaviour shift, businesses unaffected rose to 30.7 per cent, from 22.6 per cent in June.

The decreasing Covid-19 impact has also been positive for employment in many business sectors. However, tourism-related businesses such hotels and restaurants are still cutting working hours as the sector struggles to recover.

Machinery manufacturers and financial services, meanwhile, have been hit hardest by changes in consumer behaviour. Consumers are spending less, leading to low demand for machinery and also affecting loan volumes as well as quality of lending, said the survey.

It was conducted from July 1 to 24.

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