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Economy in Brief
German PPI Rises at Nine-Month High Pace
The German PPI gained 0.2% in June on the heels of a 0.6% rise in May...
U.S. Leading Economic Indicators Improve
The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (5.8% y/y) during June...
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
U.S. Initial Unemployment Insurance Claims Hit Lowest Since 1969
Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
by Louise Curley March 7, 2005
Thailand's seasonally unadjusted Real Gross Domestic Product rose 5.05% in the fourth quarter of 2005 over the fourth quarter of 2004. The year over year rate of growth has decelerated during the year from the first quarter rate of 6,70%. For the year as a whole, GDP was up 6.05% in 2004, compared with 6.89% in 2003, 5.33% in 2002 and 2.17% in 2001.
A fall off in the year to year increase in private consumption and a much larger increase in imports than in exports largely offset increases in government consumption, inventories and gross fixed investment. The year to year changes in private consumption are compared with gross fixed investment in the first chart while the second chart compares the year to year changes in exports with those in imports.
While real GDP growth, for the year as a whole, decelerated slightly in comparison with 2003, inflation as measured by the deflator more than doubled from 1.90% in 2003 to 4.55% in 2004.
| Thailand: GDP Year/Year % Changes |
Q4 05 | Q3 05 | Q2 05 | Q1 05 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|
| GDP (1988 Bahts) | 5.05 | 6.09 | 6.44 | 6.70 | 6.05 | 6.89 | 5.33 | 2.17 |
| Private Consumption | 5.14 | 5.63 | 5.68 | 6.17 | 5.65 | 6.44 | 5.28 | 4.12 |
| Government Consumption | 5.18 | 0.27 | 4.94 | 7.03 | 4.13 | 2.00 | 1.78 | 2.49 |
| Gross Fixed Investment | 16.16 | 12.01 | 12.86 | 16.65 | 14.35 | 11.88 | 6.54 | 1.13 |
| Inventories* | 17.58 | 18.59 | 10.76 | -27.31 | 19.63 | 9.04 | 6.15 | 10.14 |
| Exports | 5.10 | 8.37 | 11.84 | 6.22 | 7.78 | 7.03 | 11.99 | -4.21 |
| Imports | 3.58 | 12.46 | 20.09 | 13.54 | 12.14 | 7.65 | 13.69 | -5.50 |
| Deflator | 6.07 | 5.10 | 4.81 | 2.20 | 4.55 | 1.90 | 0.69 | 2.11 |
| GDP (nominal) | 11.42 | 11.51 | 11.55 | 9.05 | 10.89 | 6.09 | 6.09 | 4.28 |
