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Country Economic Forecasts > Thailand

  • March 2017
  • -
  • Oxford Economics
  • -
  • 14 pages

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Monthly data point to private spending continuing to expand at a respectable pace in early 2017, after growing more strongly than expected in 2016. Car sales increased by 19.9% on the year in February, after a 10.5% gain in January. We maintain our view that private consumption will grow by a reasonably healthy 3.2% this year.  Our view is bolstered by the fact that though inflation will pick up this year it will remain moderate, staying well within the central bank's target band of 1-4%. Overall, we maintain our GDP growth forecast, with the economy expected to grow by 3.2% in 2017 and 3.3% in 2018.

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