Thai Q3 GDP grows 0.6% q-o-q, slightly slower than forecast

[BANGKOK] Thailand's economy expanded 0.6 per cent in the third quarter from the previous three months, slightly slower than expected, although exports showed early signs of recovery.

Economists in a Reuters poll had expected the economy to grow 0.7 per cent in July-September, compared with a downwardly revised 0.7 per cent growth in the second quarter on a seasonally adjusted basis.

On an annual basis, the economy grew 3.2 per cent, the national planning agency said on Monday, weaker than the 3.4 per cent median forecast in the poll and versus 3.5 per cent in the April-June quarter.

The National Economic and Social Development Board also said the economy would likely grow 3.2 per cent this year from a previous forecast range of 3.0-3.5 per cent.

The economy grew 2.8 per cent last year.

The agency now expects exports to be flat this year, rather than fall 1.9 per cent as forecast earlier.

Since seizing power in May 2014, Thailand's military government has struggled to revive Southeast Asia's second-biggest economy as exports and domestic demand remain weak.

REUTERS