The quarterly survey on SMEs found indices declined across the board in the first quarter, in tandem with economic growth, which expanded a mere 2.8% during the three months through March, the slowest pace in 17 quarters. In the first quarter, the SME Competitiveness Index fell by 0.3 points from the preceding quarter to 48.7, with the trend expected to continue into the second quarter, he said. The UTCC and the Small and Medium Enterprise Development Bank of Thailand (SME Bank) jointly surveyed 1,200 SMEs across the country. The situation for SMEs would have declined if there had not been a general election, which helped boost consumption during the period," said Mr Thanavath. The UTCC forecast economic growth of 3.5% this year, in a range of 3-3.2% for the first half and 3.8-4% for the latter, he said.

Source: Bangkok Post May 24, 2019 02:19 UTC