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Thai GDP grows 0.1% q-o-q in Q3; y-o-y below forecast at 2.4%

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Thailand's trade-dependent economy grew at its slowest quarterly rate in a year in the third quarter, official data showed on Monday, leading the government to cut this year's growth estimate once again.

[BANGKOK] Thailand's trade-dependent economy grew at its slowest quarterly rate in a year in the third quarter, official data showed on Monday, leading the government to cut this year's growth estimate once again.

Southeast Asia's second-largest economy expanded 0.1 per cent on a seasonally adjusted basis, the weakest rate since a contraction in the third quarter of 2018, the National Economic and Social Development Council said.

That met the forecast 0.1 per cent growth in a Reuters poll, and compared with the June quarter's revised 0.4 per cent pace.

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

The government lowered its 2019 GDP estimate to 2.6 per cent, down from 2.7-3.2 per cent forecast in August. 

REUTERS

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