Thailand tops Bloomberg’s misery index as the least Miserable Nation along with Singapore and Japan.
The misery index consists of employment rate added with inflation as the determining factor of which of all 74 countries surveyed is the least miserable nation. Thailand’s low unemployment rate scored 1.1per cent which is the best of all surveyed.
Unemployment rate in Thailand rated at 1 per cent starting June and maintained until the end of July. Consumer price index peaked at 0.1 per cent compare June’s 0.4per cent rate. Overall, Thailand’s disinflation totaled 1.1per cent combined.
Singapore ranked with the score 1.4per cent, not far behind Thailand’s 1.1per cent. Japan tails behind Singapore with 2.7per cent in the Misery Index. Switzerland and Iceland takes the 4th and 5th spot after Japan.
Venezuela in the other hand is named the most miserable country, scoring an overall total of 188.2 percent in Bloomberg’s survey.
According to International Monetary Fund (IMF), Venezuela is facing hyperinflation not counting the problems at hand. Venezuela also sunk down in a deep recession beginning 2016. With a contraction rate of 5.7 per cent recorded on the previous year, the rate rose 8 per cent more in the current year. The country also faces a massive oil price drop affecting its macroeconomics imbalance and pressures. Not to mention, the country's political uncertainty is adding up to the economic crisis. Basic needs shortages also affect the economic status of the country which is the result of the aforementioned problems.
IMF also predicts a much further rise at 500% at the end of this year.
South Eastern Europe country, Bosnia and Herzegovina also placed low on the list garnering the score of 48.7per cent, ranking next to South Africa which also scored low with 32.9 percent.
Other notable countries such as China peaked at the list’s 23rd spot. USA follows at number 21 and Britain reaching further taking the 17th spot.
Disinflation: Not necessarily a good thing?
Satoshi Okagawa, a global market analyst at Sumitomo Mitsui Banking Corporation says that disinflation shows that supply in an economy is not enough to match demand for goods and services.
It may be preferred by consumers but that cannot maintain a healthy economy, according to economists.
Okagawa further elaborates that Consumers should delay their purchases and rather wait for cheaper prices to encourage a decrease in demand.
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