Deputy prime minister, Somkid hastens banks to help grassroot SMEs to access to capital with loan budget of Bt200bn. The Ministry of Industry is going to propose 10 measures to support and bring recovery to more than 1mn SMEs to the cabinet. It plans to have both government and private banks join in distributing the Bt200bn budget. It expects this will stimulate the economy by more than Bt1 trillion. (Matichon, 8/12/17)
NESDB reports unemployment rate in 3Q17 of 1.2% with 450,000 unemployed compared to 3Q16’s 0.9%, which is higher than the standard of 1% or 400,000 unemployed. Agricultural employment fell by 1.2% because of the flooding while employment other than agricultural slipped by 1.8%. (Khao Sod, 8/12/27)
Thai Nov headline CPI rises 0.99% y-o-y, in line with forecasts. Thailand’s annual consumer inflation rate increased in November, in line with forecasts, government data showed on Friday, but the pace was still below the central bank’s target, giving it room to keep monetary policy loose. The headline consumer price index rose 0.99 per cent in November from a year earlier, up from October’s 0.83 per cent rise. A Reuters poll projected an increase of 1 per cent in November. (Business Times, 1/12/17)
Private investment growth next year expected to be higher than 10%, according to JPPCC, the Joint Public and Private Sector Consultative Committee. Applications to set up factories (lor ngor 4) reached Bt474bn over the past 11 months, or +13.94%YoY. (Matichon, 6/12/17)
BOT admits EDC machines miss target. The numbers of stores having the machines are 150,000–160,000, lower than the target at 560,000. (Bangkok Biz, 6/12/17)
Sugar industry bows to WTO pressure. The cabinet has agreed in principle on four sugarrelated regulatory announcements which pave the way for the revocation of the fixed retail price so as to meet World Trade Organization (WTO) rules. They were drafted by the Cane and Sugar Board. (Thai Rath, 6/12/17)
Senate passes sweeping GOP tax plan in early hours of Saturday morning. The Senate passed its tax reform bill in the early hours of Saturday morning, following a day full of Republican leaders making changes to bring enough members on board and a long night full of heated rhetoric on both sides of the aisle. The vote was 51-49, mostly along party lines. Sen. Bob Corker of Tennessee was the only Republican to vote against the bill, citing concerns about growing the deficit. (CNN, 2/12/17)
OPEC and Russia agree to extend oil production cut to end of 2018. OPEC and non-OPEC oil giant Russia agreed Thursday to extend production cuts until the end of 2018, following hours of discussions in Vienna. (CNBC, 30/11/17)
ISM manufacturing index contracts slightly, while construction spending surges. A measure of U.S. factory activity fell more than expected in November as a gauge of employment cooled, but the index continued to point to strengthening manufacturing conditions. The Institute for Supply Management (ISM) on Friday said its index of national factory activity slipped to a reading of 58.2 last month from 58.7 in October. (CNBC, 1/12/17)
U.S. PMI hints at strong manufacturing growth in November. The IHS Markit survey data showed that operating conditions improved throughout the U.S. manufacturing sector in November. The seasonally adjusted manufacturing PMI came in at 53.9 in November, down from October’s 54.6. The latest index reading hinted at strong but slower, overall growth in the manufacturing sector. The latest upturn was consistent with the long-run series average. (Econotimes, 1/12/17)
