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THAILAND: Stronger Q3 Growth Driven By Public Spending, Capex & Exports

THAILAND

Q3 Thai GDP printed higher than expected rising 1.2% q/q to be up 3.0% y/y after 0.8% q/q and 2.2% y/y in Q2. The consumer continued to slow but there was a pickup in government spending and capex growth. Services exports remained strong driven by tourism. Going forward 2024 growth is officially expected to be 2.6% and 2025 between 2.3-3.3%. 

Thailand GDP % sa

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Q3 Thai GDP printed higher than expected rising 1.2% q/q to be up 3.0% y/y after 0.8% q/q and 2.2% y/y in Q2. The consumer continued to slow but there was a pickup in government spending and capex growth. Services exports remained strong driven by tourism. Going forward 2024 growth is officially expected to be 2.6% and 2025 between 2.3-3.3%. 

Thailand GDP % sa

Keep reading...Show less