InfoQuest (November 13, 2020) -- Thai economic sentiment indicator (ESI) rose from 50.2 in September to 50.9 in October, according to the Center of Economic and Business Forecasting, University of the Thai Chamber of Commerce.
The overall ESI surged from 42.9 to 43.9, the employment confidence index rose from 48.2 to 49.0, and the future income confidence index grew from 59.4 to 59.9.
Favorable factors for this case include the adjustment of forecasted decline for 2020 GDP from 8.5 percent to 7.7 percent by the Finance and Economic Office, decreased oil retail prices in Thailand, government intervention to alleviate the economic impact of COVID-19, and the like.
Certainly, unfavorable factors may be observed, such as demonstrations that make people worry about the political situation, anxiety about the second outbreak and the abolishment of Generalized System of Preferences (GSP) by the United States for 231 types of Thai goods.
Source: InfoQuest, by Kasamarporn Kittisamphan / Rachada / Sasithorn, translated by Xinhua Silk Road
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