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Steps seen hitting GDP prospects
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Protracted pandemic sure to dim outlook
published : 20 Jul 2021 at 04:56
15 A GrabFood delivery driver picks up orders from a McDonald s branch in Bangkok on Friday, as dine-in bans continue due to Covid-19 restrictions across the country. AFP
Thailand s GDP growth may be in a negative territory this year as the intense lockdown measures and the prospect of a protracted pandemic continue to crush the economy, according to Asia Plus Securities (ASPS).
The imminent lockdown measures are expected to be as strict as those employed during the second quarter of 2020, pressuring the outlook for the economy. Hotel, food, airlines, construction, shopping centres, and the media will continue to bear the brunt of the downturn much more than other sectors.
Analysis consensus facing downgrade
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Securities analysts have stated that analysis consensus for listed companies may be downgraded this year if the second-quarter operating results drop.
Therdsak Thaveeteeratham, senior executive vice-president of Asia Plus Securities (ASPS), says the consensus from a Bloomberg survey currently stands at 83.6 baht per share, which is quite high since many brokers gradually upgraded their earnings per share (EPS) forecasts used in the calculation after listed companies showed better performance in the first quarter.
Mr Therdsak said most brokers made EPS forecasts at above 80 baht, based on the operating results and the pandemic situation in the first quarter when daily new infections averaged 2,000 cases a day.
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