KBank's Strategic Acquisition in Muang Thai Group Holding
K
KASIKORNTHAI
Monthly Economic Conditions: March 2023
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
2022
■In March 2023, private
Units: YoY %, or indicated otherwise
Mar-22 Apr-22
May-22 Jun-22
Jul-22
Aug-22 Sep-22
Oct-22 Nov-22 Dec-22 Jan-23
Feb-23 Mar-23
consumption remained
Private Consumption Index (PCI)
8.5
10.8
8.9
12.1
10.2
14.9
17.4
11.7
6.6
7.1
2.5
4.0
3.9
6.0
Non-durables Index
2.1
-5.0
2.2
3.8
1.5
7.3
8.0
5.5
2.9
2.8
0.3
2.3
3.6
2.6
stable, while private
Durables Index
7.4
0.2
3.0
11.6
1.9
13.6
41.5
10.4
2.6
0.3
-5.6
0.4
4.3
3.0
Service Index
Passenger Car Sales
Motorcycle Sales
22.9
9.8
17.3
26.5
27.3
32.8
36.8
28.9
24.7
23.0
19.9
22.7
24.2
28.2
10.6
26.9
7.1
6.9
13.6
18.6
57.2
27.7
2.8
-11.0
-1.2
-9.3
-22.7
-26.1
12.0
-2.2
10.8
24.7
-3.3
28.2
77.0
9.7
1.8
3.9
-13.7
-1.2
14.9
8.7
Private Investment Index (PII)
2.7
1.4
0.3
3.4
5.0
4.0
10.4
5.0
0.2
-1.6
-4.3
-2.8
0.1
-1.6
Construction Material Sales Index
3.3
-3.8
2.9
-2.2
4.1
16.9
10.9
2.6
4.1
11.1
-3.6
-1.1
0.2
-0.8
Domestic Machinery Sales at constant prices
8.6
5.0
1.2
5.1
10.1
13.8
27.7
12.5
3.6
2.9
0.0
0.2
3.4
1.1
Imports of Capital Goods at constant prices
-2.7
-4.9
-4.2
2.5
2.2
-5.7
1.3
-0.8
4.3
-9.2
-13.6
-9.5
-2.6
-3.6
Newly Registered Motor Vehicles for Investment
8.6
5.0
2.5
7.4
4.8
5.9
34.6
23.8
-4.0
-10.1
-8.5
-14.7
-10.7
-17.7
Manufacturing Production Index
0.4
10.2
-0.4
-2.3
-0.5
6.0
14.6
2.9
-42
-5.4
-8.4
-4.8
-2.4
-4.6
Capacity Utilization
62.8
63.9
63.3
61.9
63.2
63.3
64.9
63.8
60.5
60.1
60.0
60.4
61.6
60.8
Agricultural Production Index
0.9
12.8
0.6
6.3
6.6
-1.5
-6.5
-1.6
2.0
2.6
4.2
4.0
8.7
9.9
Agricultural Price Index
11.6
8.9
10.2
9.2
11.3
18.2
23.3
18.9
18.3
13.3
7.5
1.5
4.2
-8.7
Tourist arrival growth
2506.6 3026.6 3339.0
8518.3 13388.6
6125.0
7679.7 10598.0
7178.2
1816.0
872.0
1501.9
1283.3
953.0
Exports (Custom basis)
5.5
19.5
9.9
10.5
11.8
4.3
7.5
7.8
-4.4
-6.0
-14.6
4.5
-4.7
4.2
Price
4.2
4.5
5.0
4.2
6.3
4.7
4.6
4.0
4.0
3.0
3.2
3.0
2.1
0.9
Volume
1.3
13.8
1.5
6.0
5.6
-1.0
3.7
4.7
-6.3
-8.0
-14.0
-6.2
-6.0
-5.8
Imports (Custom basis)
13.6
18.0
21.5
24.1
24.5
23.9
21.2
15.6
-2.1
5.6
-11.9
5.5
1.1
-7.1
Price
13.0
15.4
15.4
14.6
15.9
14.3
15.0
14.2
14.0
13.3
13.5
8.9
5.2
0.6
Volume
2.0
2.7
4.7
8.2
9.5
8.0
7.7
5.5
-6.7
-1.5
-18.0
0.2
-3.3
-6.3
Trade Balance ($ millions) (Custom basis)
-16,123 1,459
-1.908 -1,874
-1,529 +3,661
-4,215
-853
-596
-1,342
+1,034 -4,650
-1,113
2,719
investment declined MoM in
line with manufacturing
sector
■Manufacturing production
decreased on the back of a
slowdown in global demand,
while agricultural production
continued to improve
■Thailand's current account
saw larger surplus consistent
with improving trade balance
■Thai headline and core
inflation declined, with high
base last year and softened
energy prices
Current Account ($ millions)
-16,942.4 1,102.2 -2,020.9 -2,925.9 3,079.8 -4,035.7
3.578.6
69.5
510.6
-550.7
967.4 -2,148.9
1,332.3 4,778.6
Headline CPI
6.08
5.73
4.65
7.10
7.65
7.61
7.86
6.41
5.98
5.55
5.89
5.02
3.79
2.83
Core CPI
2.51
2.00
2.00
2.28
2.51
2.99
3.15
3.12
3.17
3.22
3.23
3.04
1.93
1.76
Sources: Bank of Thailand (BOT), Ministry of Commerce (MOC), Office of Industrial Economics (OIE), and Office of Agricultural Economics (OAE)
บริการทุกระดับประทับใจ
147
K
KASIKORNTHAI
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
KR Household Economic Condition Index (KR-ECI)
■ In March 2023, the KR-ECI and 3-month Expected KR-ECI decreased to 35.8 and 37.6, from 36.6 and 38.6
reported for February 2023, as Thai households became more concerned about their debt burden. Nonetheless,
the perception of households towards income and employment is improving in line with Thailand's continued
economic recovery, driven by the tourism sector
KR Household Economic Condition Index (KR-ECI)
Components of 3-month Expected KR-ECI
KR-ECI
50.0
48.0
46.0
44.0
42.0
40.0
38.0
36.0
34.0
32.0
--KR Household Economic Condition Index (KR-ECI)
30.0
-
Source: KResearch
-3-month Expected KR-ECI
Current KR-ECI
23
Feb-23
35.5
Household savings
Household income and employment
46.2
46.9
42.3
3-month Expected KR-ECI
40.2
Household debt
381.6
37.4
202
Household expenses excluding debt
20.5
17.9
201
30.9
7.3
Prices of consumer goods
30.3
27.7
Source Research
0
10
20
30
40
50
0
10
20
30
g
E
Notes: The KR Household Economic Condition Index (KR-ECI) has been devised by KResearch to monitor household sentiment towards economic conditions at
the current level and over the next three months. Any reading above 50 reflects positive sentiment and below 50 negative sentiment.
- Research sample includes households in Bangkok and Metropolitan Area (BMA).
- KR-ECI consists of household savings, household income, household debt, household expenses excluding debt, and prices of consumer goods.
บริการทุกระดับประทับใจ
40
39.5
29.1
48.9
50.8
*Mar-23 Feb-23
50
60
148View entire presentation