Thai Growth Slows in Q3

Thailand’s economy grew at a slower pace last quarter on weaker private investment, putting pressure on the government to boost spending to help shield the economy from rising global risks and political uncertainty following the death of  King Bhumibol Adulyadej, Bloomberg reported. The gross domestic product expanded 3.2% from a year earlier, the National Economic and Social Development Board said in Bangkok. The median estimate of 25 economists surveyed by Bloomberg was 3.4%. GDP grew 0.6% from the previous three months, compared with the 0.7% median estimate. Thailand’s economy has struggled to gain traction this year as weak consumer spending and a slump in trade curbed investment. While exports are showing some signs of recovery, authorities are now facing risks from financial market volatility following the US elections and the death last month of the Thai king, who had served as a pillar of stability during his seven-decade rule.