TCC’s survey shows Thai Econ declining

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BANGKOK, 25 Nov 2013, The nation’s economic outlook and regional consumption rate are on the decline, says the survey conducted by Thai Chamber of Commerce’s Center for Economic and Business Forecasting. 

According to Miss Saowanee Thairungroj, Rector of the Thai Chamber of Commerce University, there are only 5 positive economic factors in the fourth quarter of this year including the number of tourists, border trade figures, provincial investment promotion policies, speedy budget approval, and Government’s economic stimulus packages.

As for the negative factors, she said they included political & economic instability, lack of labors & skilled labors, falling prices of agricultural and commodity products, rising fuel prices, southern violence, and the decline in consumer’s confidence.

In the wake of the ailing economic performance and the decline in consumption rate, tourism is the only major factor that helps supporting the economy, adding that public utility system plays an important role in provincial development.Miss Saowanee added.

Miss Saowanee also said the Center for Economic and Business Forecasting is set to revise the nation’s 2013 and 2014 economic growth figures, on December 12th.