World Economy

Thai Growth Slower Than Forecast

Thai Growth Slower Than ForecastThai Growth Slower Than Forecast

Thailand’s economy expanded less than expected in October-December from the previous three months as domestic demand slowed and tourist arrivals slumped, Reuters reported. The economy grew at 0.4% from the previous quarter, on a seasonally adjusted basis, while economists in a Reuters poll had expected 0.6%. The one-quarter growth figure for July-September was revised down to 0.4% from 0.6%. On an annual basis, the economy expanded 3% in October-December, the national planning agency said on Monday, the same as in the poll and compared with 3.2% in July-September. Thailand’s full-year growth was 3.2%, up from a revised 2.9% in 2015, the National Economic and Social Development Board said. Growth in Southeast Asia’s second-largest economy has lagged regional peers. The military junta has ramped up spending and taken measures in a bid to boost growth.

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