Thailand Economic Growth Slows Last Quarter, Boosts Stimulus Case
- Thai economy grew 1.5% in third quarter, slowest pace in 2023
- 2024 growth est. of 2.7%-3.7% doesn’t consider stimulus plan
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Thailand’s economic growth unexpectedly slowed in the third quarter as manufacturing slumped on weak exports, supporting the case for the new government to proceed with its planned $14 billion cash handout program.
Gross domestic product in the three months through September rose 1.5% from a year earlier, the National Economic and Social Development Council said Monday. That’s well below the 2.2% median estimate in a Bloomberg survey and 1.8% growth in the second quarter.