Thailand's growth prospects "dimmest" among ASEAN nations: Moody’s

Domestic recovery remains fragile.

A report by Moody's Analytics stated that Thailand's growth prospects are the "dimmest" among all ASEAN nations, on back of fragile domestic recovery and weak regional demand.

Moody's stated that a pickup in consumption and investment remains elusive, while the country's export competitiveness is stuck in secular decline.

"Thailand's woes are also cyclical, stemming from falling commodity prices, which have suppressed farm incomes and agriculture production; consumer spending continues to fall on a year-ago basis. Weak regional demand has compounded the issue, weighing on other export-oriented industries; electronic and hard-disk drive production continues to fall, while the auto sector is facing stiff regional competition as a result of the relatively strong Thai baht,” the report stated.