THAILAND’S economic recovery has been uninspiring. Economic growth
continues to be reined in by weak private consumption and investment and
the absence of growth in exports. Household debt remains perilously high, and
the country’s future political path is still uncertain. Consequently, consumer
confidence has tumbled, declining for 8 consecutive months to a 15-month
low in August 2015. On the external front, weak demand has stymied growth
in exports. Further cause for concern stems from a slowing Chinese economy,
the devaluation of the yuan, and the impending interest rate hike by the US
Federal Reserve.