GDP growth slows to 0.1% in Q3

GDP growth slows to 0.1% in Q3

A view of the port of Bangkok. (Photo: Reuters/file)
A view of the port of Bangkok. (Photo: Reuters/file)

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% 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% growth in a Reuters poll, and compared with the June quarter's revised 0.4% pace.

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

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



Do you like the content of this article?
COMMENT (41)

Majority say online learning will affect education quality: Suan Dusit Poll

A large majority of people think online learning will worsen the quality of Thai education and the kindergarten level will be most affected, according to the result of an opinion survey by Suan Dusit Rajabhat University, or Suan Dusit Poll.

10:03

Mercurial Mbappe saves blushes as French attack falters again

BUDAPEST: France had to rely on the persistence of Kylian Mbappe to snatch a 1-1 draw against Hungary in a pulsating Euro 2020 group clash at the Puskas Stadium on Saturday as their attack once again failed to fire in front of an fervent crowd of 65,000.

07:15

Covid mixed doses study gets big response

One million doses of the Chinese Sinopharm vaccine will arrive in Thailand on Sunday, says the Chulabhorn Royal Academy (CRA).

06:50