A woman carries clothes as she walks at the entrance of a night market in Bangkok.- AFP
BANGKOK: Thailand's economy grew 3.2% in the final quarter of 2024 from a year earlier, official data showed on Monday, missing the median forecast of 3.9% growth in a Reuters poll of analysts.
On a quarterly basis, Southeast Asia's second-largest economy grew a seasonally adjusted 0.4% in the October-December quarter, data from the National Economic and Social Development Council showed, below the poll forecast of 0.7% growth.
In the September quarter, growth was 3.0% on the year and 1.2% on the quarter.
In 2024, the economy grew 2.5%, accelerating from a revised 2.0% in 2023, the NESDC said.
It said the economy was expected to grow in a range of 2.3% to 3.3% in 2025, unchanged from a previous forecast with a 2.8% midpoint, supported by government spending, private consumption and investment, tourism and exports.
Commerce Minister Pichai Naripthaphan said on Friday he hoped the country would not face U.S. tariffs and would do everything to ensure it was not targeted, amid concerns that its trade surplus with Washington could adversely affect exports.
In December, the Bank of Thailand left its main interest rate at 2.25% following a surprise quarter-point cut in October.
Last month, the central bank governor told Reuters the current policy rate remained suitable, given high household debt, even though growth could fall below 2.9% this year.
The next policy review is scheduled for February 26. - Reuters
