According to Kasikorn Research, the Thai economy is close to entering a recession and first quarter GDP estimated to have declined by 1.8% from the previous quarter (but expanded 0.7% y-o-y), in line with the National Economic and Social Development Board (NESDB) who forecasted that first quarter GDP may fall by 1.7% from the previous quarter.

The prolonged political unrest had affected the economy as well as domestic spending ever since the first political protests started in Oct 2013. Public investment has largely stalled and the tourism sector has not been spared and international tourist arrivals in March were poor at -9% y-o-y.





Quoting from the Bank of Thailand on 31 March 2014, y-o-y, the Private Consumption Index (PCI) is down -2.5%, Private Investment Index (PII) is down -7.7% as businesses defer investments and the Manufacturing Production Index is down -4.4%. Merchandise exports ......