Thailand: Solid performance of Q1 GDP – UOB
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
Economist at UOB Group Enrico Tanuwidjaja reviews the latest Q1 GDP figures in Thailand.
“The Thai economy picked up growth pace in 1Q23 to 2.7% y/y (UOB: 3.0%), almost double the 1.4% recorded in 4Q22, on the back of continued recovery in the tourism industry and steady agriculture production.”
“Private consumption and investment expenditures increased by 5.4% y/y and 3.1% y/y, respectively. Exports of goods and services rose by 3.0%, reversing a decline seen in 4Q22. Nevertheless, government consumption and imports fell by 6.2% and 1.0%, respectively.”
“Based on the 1Q23 GDP data, the Thai economy remains on track to grow at least 3% for this year. We keep our 2023 growth forecast unchanged at 3.1% as the strength of domestic economic recovery appears to be more modest than expected. Nevertheless, we continue to expect higher and steadier tourism income as China’s reopening should bode well for services exports performance. We also keep our forecast for BOT to keep rates unchanged for the rest of 2023 in support of growth recovery as inflation risks subside.”
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
