BANGKOK, 4 May 2015 – Thai Wholesale & Retail Trade Association has forecast that the retail business sector would grow by 1 percent in 2015.
Trade Association President Somchai Pornratanacharoen said that the sector recovered during the first quarter of the year, thanks to a series of long weekends and holidays.
Mr. Somchai forecast the export sector would remain stable during the latter half of the year, as the period caps off the long holiday seasons. He said the public has continued its pattern of low consumer confidence, due mainly to the high household debt rate.
He added that the protracted issue of low agricultural prices has greatly diminished purchasing power at the local community level, which constitutes the majority population.
Regarding the government’s scheme to restructure public areas, the Trade Association President said the officials should find more compensation measures for street vendors via sanctioned venues for hire at affordable rates.
As for the recently reduced benchmark rate, Mr. Somchai said the move would not affect retailers, adding that it would be more beneficial to larger entrepreneurs.
