Tourism Rebound Aiding Thailand’s Economic Recovery
- GDP in third-quarter grows at fastest pace in over a year
- Private consumption rises 9%, while government spending falls
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A revival in tourism helped Thailand expand at the fastest pace in more than a year last quarter, even as finer details of the economic data support the case for the central bank to go slow on monetary policy tightening.
Gross domestic product rose 4.5% in July-September from a year ago, the National Economic and Social Development Council said Monday, matching the median estimate in a Bloomberg survey. Compared with the previous three months, output expanded 1.2%, beating expectations for a 0.8% increase.