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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
THAILAND
Thai growth has been underperforming most of the region but there was some good news today from the University of Thai Chamber of Commerce consumer sentiment report. Consumer confidence rose almost one point to 63.8 in February from 62.9 to be its highest since February 2020, pre-Covid. The Q1 average is pointing to another robust quarter for real consumer spending after Q4 rose 7.4% y/y.
- The economy is heavily dependent on international tourists and while numbers rose 41.5% y/y in January, they are still below pre-pandemic levels. Consumer sentiment is probably being boosted by the recovery in the sector and the expected digital wallet payment.
- The concern though is that tourists are staying in Thailand for shorter periods than previously and spending less per person. This is reflected in flat January private consumption volumes.
Thailand consumer confidence vs real private consumption y/y%
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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