Thailand GDP growth recovers but outlook is weak on baht, trade

[BANGKOK] Thailand's economic growth rebounded in the third quarter, but the full-year outlook remains weak because of the impact of the US-China trade war and a strong currency.

Gross domestic product rose 2.4 per cent from a year ago, the National Economic and Social Development Council said on Monday. The expansion was below the median estimate of 2.7 per cent in a Bloomberg survey of economists.

Thailand's trade-reliant economy has been hit by slumping exports, a surging currency and mixed performance in the tourism sector. The central bank earlier this month cut its benchmark interest rate to a record low and announced measures to slow gains in the baht, which has been the strongest performer in emerging markets, rising more than 9 per cent over the past year.

BLOOMBERG