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Thailand’s 2019 Forecast Cut to 2.6% as Q3 GDP slows to 0.1%

On an annual basis, gross domestic product (GDP) rose 2.4% in the third quarter, less than the forecast 2.6%.

Boris Sullivan

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Thailand’s economy grew at its slowest quarterly rate in a year in the third quarter, leading the government to cut this year’s growth estimate once again.

The National Economic and Social Development Council (NESDC) cut its 2019 GDP forecast to 2.6% – from an earlier view of 2.7%-3.2% – and said growth should accelerate to 2.7%-3.7% next year.

Southeast Asia’s second-largest economy expanded 0.1% on a seasonally adjusted basis, the NESDC said.

Thailand’s export-reliant economy has been hit by slumping exports and a surging currency, leading the central bank earlier this month to cut its benchmark interest rate to a record low.

On an annual basis, gross domestic product (GDP) rose 2.4% in the third quarter, less than the forecast 2.6%. In April-June, growth was just 2.3%, the weakest pace in nearly five years.

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Economics

Thai economy continued to be on a decelerating trend (Bank of Thailand)

The Thai economy continued to be on a decelerating trend in October, although private consumption indicators expanded and foreign tourist arrivals continued to expand.

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According to Bot latest Press Release, the Thai economy continued to be on a decelerating trend in October. The value of merchandise exports continued to contract, mainly due to the economic slowdown of trading partners, consistent with deterioration in manufacturing production and private investment indicators.

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Economics

Thai Cabinet approves new economic stimulus measures

The Thai government has rolled out new stimulus measures intended to boost full-year economic growth to 2.8%

Boris Sullivan

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The Thai Cabinet today approved three new stimulus packages to prop up the softening economy, said Finance Minister Uttama Savanayana.

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Economics

NESDC cuts Thailand’s growth to 2.6%

GDP growth this year is now expected down to 2.6 percent, but the council now expects 2020 GDP to grow at least 2.7 percent when the export sector is expected to recover

National News Bureau of Thailand

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BANGKOK (NNT) – The Office of the National Economic and Social Development Council (NESDC) has announced that Thailand’s Q3 2019 GDP growth came in at 2.4 percent, adjusting the overall GDP growth this year down to 2.6 percent, citing negative factors from the trade war affecting the export sector.

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