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Tuesday, May 14, 2024

EconThai glum on second-half outlook

Move Forward Party leader and prime ministerial candidate Pita Limjaroenrat takes a selfie while greeting supporters in Lampang province on June 14.

The domestic economy may slow down in the second half of the year due to a number of problems, ranging from looming drought and political uncertainties to a sluggish global economy, says the Employers’ Confederation of Thai Trade and Industry (EconThai).

“The global economy is expected to grow by less than 2.1% in 2023,” said Tanit Sorat, vice-chairman of EconThai.

“The Chinese economy has yet to fully recover while the US market is slowing down, affecting our exports.”

The Commerce Ministry reported earlier that the customs-cleared value of exports dipped for a seventh consecutive…

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