Witness auto sales turning around late last year after an 18-month slide. And for the first time in nearly 20 months, more Thais are going to shopping spots Singapore and Hong Kong. Banks aren't lending - that's why economic output is not growing. Ranjit Teja, the International Monetary Fund division chief for Thailand in Washington, is more upbeat. The exchange rate has been remarkably stable, interest rates have declined sharply, and the external position continues to strengthen.
Some numbers are hopeful.
Consumers reluctant to spend Not quite, counters Geoffrey Barker, Hong Kong-based regional economist for Dresdner Kleinwort Benson. He attributes the export surge in Thailand's neighbors to their larger electronics sectors. It is like injecting Viagra into a dying man. He is not going to stand up and burst into activity. He expects a similar dose of stimulus measures later this year.