Economic outlook leaves no room for complacency
The Nation August 26, 2010 12:00 am
Indicators for the second half of the year do not seem so rosy; businesses must now look to sustainability
The public and private sectors should not be complacent at the buoyant growth rate in the first half of this year. The National Economic and Social Development Board (NESDB) earlier this week warned of deceleration in growth as the demand for Thai goods overseas is set to slow down. The Thai economy grew by 10.6 per cent in the first half of this year largely due to robust export demand. But that demand is unlikely to be sustained in the second half. The quarter-on-quarter growth during the remainder of the year will be zero or even fall into the negative zone. The latest forecast should serve as a warning to both the government and private sector that they should, from now on, operate with caution to ensure that the country can withstand the pressures of a changing business environment.