The Week in Numbers: Thailand Reported Largest GDP Growth in Four Years

Shipping losses at sea in 2016 was the lowest in a decade. Only 85 large ships sustained irreparable damage, compared to 101 ships in 2015. There was a total of 2611 shipping incidents or casualties – such as a fire, explosion or collision. This was a 4% decline from one year ago. Unfortunately, 9% of all incidents occurred in South East Asia, making it the third top incident location.

Meanwhile, Thailand reported its largest Gross Domestic Product (GDP) growth in four years for the quarter ending in June. Its GDP grew 1.3% on a quarterly basis and 3.7% on an annual basis. Thailand’s government also raised its forecast for its economy growth despite the headwinds of a strong Thai baht and expected slowdown in China.

In Singapore, consumer price index for July increased by 0.6% on a yearly basis. This was up from 0.5% in June. Retail and water prices rose 1.2%. Water tariffs were raised by 15% from July 1 as part of a phased 30% hike over two years. Private road inflation was at 3.5% in July compared to 3% in June. Service inflation was at 1.4% compared to 1.3% in June. Core inflation, which excludes accommodation and private road transport costs, was at 1.6%, a slight increase from 1.5% in June.

Last but not the least, Singapore’s factory output expanded 21% in July on a year-on-year basis. This was boosted by healthy electronics manufacturing, with an increase of 49.1% from last year. Precision engineering cluster output rose 21.8%, while biomedical manufacturing cluster grew 5%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Jeremy Chia doesn't own shares in any companies mentioned.