Thai economy to temporarily slow down:Economists

BANGKOK, July 25 (TNA) - Economists of over 30 leading agencies say that Thailand is likely to face a temporarily economic slowdown over the next six months, before improving in January 2014. According to a latest survey conducted by the Research Institute and the School of Economics of Bangkok University from July 15-24 , which was released on Thursday, the 62 economists of the 32 leading agencies gave the index of their confidence in the Thai economy at 34.40 points, from 39.3 per cent last month and staying below 50 points. The finding reflects a weak condition of the Thai economy and its weakest point in 18 months, resulting from a slowdown in domestic consumption and investment in the private sector, as well as exports and the spending and investment of the Thai government. The survey found that international tourist arrivals are the only factor that the economists believe to be continually strong from April last year. The surveyed economists’ confidence in the Thai economy in the next three months stands at 41.50 points, a drop from a previous survey, showing their anticipation that the national economy should continue to slow down in the next quarter. The economists' confidence in the Thai economy over next six months stands at 55.27 points, showing that they expect the national economy to pick up from its present level, boosted by the government's spending and investment and international tourist arrivals in the Kingdom. (TNA)