Center for Economic and Business Forecasting, University of the Thai Chamber of Commerce has revealed that, in the third quarter of this year, modern-trade business, such as convenience stores, supermarkets and others, improved for the first time in 9 months, or since the beginning of the COVID-19 outbreak.
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The modern trade index rose from 46.4 in the previous quarter to 47.4, as Thailand has successfully controlled the COVID-19 pandemic inside the country. With lockdown restrictions relaxed, partial reopening to foreign tourists, more holidays and other financial support, the domestic economy has been gradually improving.
Thanawat Ponwichai, director of the Economic and Business Forecasting Centre, at the University of the Thai Chamber of Commerce, said that supporting measures and policies have positively affected domestic trade, causing Thailand’s economy to shrink less. Previously, Thailand’s economy was expected to shrink -7 to -8 percent, but with the measures, it is expected to be around -6 to -6.5 percent.
However, many businesses still have concerns about COVID-19, political issues and household debt, so they want the government to launch more measures and support policies, both for customers and business owners, especially in tourism and retail. (NNT)