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Thai fourth quarter GDP growth seen at 2.4%-2.5% - government official

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Thai fourth quarter GDP growth seen at 2.4%-2.5% - government official

 

2020-01-16T075037Z_1_LYNXMPEG0F0JU_RTROPTP_3_THAILAND-ECONOMY.JPG

FILE PHOTO: Cars pass a Skytrain (Bangkok Mass Transit System) construction site in Bangkok, Thailand May 13, 2018. REUTERS/Soe Zeya Tun

 

BANGKOK (Reuters) - Thailand's economy likely grew by 2.4%-2.5% in October-December from the same period a year earlier, a government official said on Thursday, roughly the same pace as the third quarter.

 

Exports have been hit by global trade tensions and a sharply stronger baht currency <THB=TH>.

 

Southeast Asia's second-largest economy has lagged most regional peers for years. Annual growth in July-September was 2.4%, following 2.3% in the previous quarter, the weakest pace in nearly five years.

 

Thailand is in the middle of an economic downturn that would last for another 12-18 months, Kobsak Pootrakool, secretary to council of economic ministers, told a conference.

 

"I think for the fourth quarter, when it comes out, it will probably be 2.4%-2.5%," he said.

 

Official gross domestic product (GDP) data for the final quarter of 2019 and the full year is due on Feb. 17.

 

The central bank forecast 2019 economic growth at 2.5%, a five-year low, and 2.8% for this year.

 

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-- © Copyright Reuters 2020-01-16
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13 hours ago, snoop1130 said:

Thailand is in the middle of an economic downturn that would last for another 12-18 months, Kobsak Pootrakool, secretary to council of economic ministers, told a conference.

I think he is not factoring in when the business is gone it will take years to get back, not weeks

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The only thing growing here is the absurd prices for imported goods🤔

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