Thai demand likely to grow 2%-7% in 2008

Thai demand likely to grow 2%-7% in 2008
Published: 26 November 2007

Thailand’s cement consumption is expected to return to positive growth next year in a range of 2% to 7% after a slight contraction this year, driven by planned investments in infrastructure megaprojects, Kasikorn Research Center said.  
 
In 2008, the cement demand is likely to rise to up to 30.3Mt, from a projected 28.3Mt this year the research unit of  Kasikornbank PCL said.  
 
However, growth could be only 2% if rising oil prices stoke inflation to the point that it affects consumer spending.  
 
Cement consumption this year is expected to drop 2.8% on year from 29.2Mt in 2006, due mainly to weak demand in the property sector and a slowdown in construction of major infrastructure projects, Kasikorn said.  
 
Exports of cement are likely to increase 10% next year from a projected 18.5Mt in 2007, up 23% from 2006, Kasikorn said.