Consumer spending to finally recover this year

Quick Summary:

The Bank of Thailand's expected interest rate cuts, prompted by the strong baht, and growth in the tourism sector will both increase the country's consumer spending, which is expected to exceed the 2019 level for the first time this year, say analysts.

Shoppers stroll around Bangkok's Sampheng Market, as consumer spending remains pressured by high household debt.

Asia Plus Securities (ASPS) also expects the Bank of Thailand to start trimming rates this year as the baht has been strengthening rapidly.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Debt Household Interest Thailand Bank Expected Rate Spending Baht Consumer Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-19 @ 05:56:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 451 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 22582904

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 1 posts per day

Year Established: 1946

Headquarters: Thailand

News Last Updated: 11 hours ago

Coverage Areas: Thailand

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #66

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