Thailand's economy continued to recover in October thanks to consumption and private investment, the Bank of Thailand (BoT) said, but exports and the services sector slowed.
The country recorded a current account surplus of US$0.7 billion in October, after a surplus of $3.4 billion the previous month, the central bank said in a statement on Thursday.
Exports, a key driver of growth, rose 7% year-on-year in October, the BoT said.
Economic activity in November was likely to expand along with private consumption and tourism, it said.
Southeast Asia's second-largest economy grew much lower-than expected 1.5% in the July-September quarter from a year earlier, the slowest pace this year, on weak exports and government spending.
On Wednesday, the BoT lowered its 2023 growth forecast to 2.4% from 2.8%. For next year, it predicts growth at 3.2%, but if the government's digital handout policy is implemented, growth is seen at 3.8%, versus a previous forecast of 4.4% growth. The economy expanded 2.6% last year.
Last week, Prime Minister Srettha Thavisin said the economy was in "crisis".