Thai Q3 GDP grows 1.0% q/q, better than forecast

[BANGKOK] Thailand's economy expanded 1.0 per cent in the third quarter from the previous three months, more than expected on stronger public spending and the service sector.

Economists in a Reuters poll had expected growth in gross domestic product (GDP) in July-September would pick up to 0.7 per cent from revised 0.3 per cent in the second quarter on a seasonally adjusted basis.

On an annual basis, growth in the third quarter was 2.9 per cent, the national planning agency said on Monday, beating the 2.6 perc ent median forecast in the Reuters poll.

Since the army seized power in May 2014, the junta has struggled to revive Southeast Asia's second-biggest economy. Exports have contracted, weighing on the manufacturing sector, and domestic demand has been crimped by high household debt.

REUTERS