World Economy

Thai Economy Remains Weak

Thai Economy Remains WeakThai Economy Remains Weak

Given the 0.3% growth quarter on quarter, the pace of overall economic recovery in Thailand appeared weak in the first quarter of this year, noted Nalin Chutchotitham, the economist of HSBC Thailand, NewsNow reported. The Office of National Economic and Social Development Board Monday announced the downward revision in the Thai economic growth forecast, citing poor exports as the main reason. The growth forecast is cut from 3.5-4.5% to 3-4% for this year, while inflation is expected to be minus 0.3% or expand by only 0.7%. She also noted that given the NESDB’s change of GDP calculation methodology, it is impossible to directly compare the old and new GDP series.