impacted by declining global demand, which has also led to a deceleration of private consumption as a result of lower employment, particularly in export- related manufacturing sectors. Elevated household
mobile market remained elevated with continued low-price unlimited data plans, especially in the prepaid segment i.e. 150-200 Baht for 4-15mbps unlimited data. There is also 5G offerings at a lower price
purchasing power. However, from Sep-21 onward, restrictions were gradually lifted, resulting in some improvement in consumer spending. Meanwhile, competition in mobile industry remained elevated as operators
prices should keep the current account surplus at around 7-8 percent of GDP. V3 22/02/62 14:27 น. 2 Private consumption will likely moderate as car sales are expected to normalize and elevated household
from 1.0 percent in 2019. Private consumption will likely remain subdued from the elevated household debt. Fiscal stimulus, an accommodative monetary stance and clarity in the government’s implementation
, however, it would be restrained by non-farm household income given signs of moderation in earnings, and lower consumer confidence among low-income households due to elevated household debt. Bank of Thailand
represented 10.6% YOY while non-durable goods, in which high proportion of low to medium-income household expenditure, growth only 0.0% YOY since partly owing to household debt that was still elevated at 78% to
. Continued elevated levels of household debt will likely contribute to a contraction in private consumption, while private investment is also expected to fall as the business sector delays investment in order
, domestic demand would be restrained by elevated household debt, some signs of moderation in earnings and employment in the export-related manufacturing sector, as well as public spending and public
, domestic demand would be restrained by elevated household debt, some signs of moderation in earnings and employment in the export-related manufacturing sector, as well as public spending and public