Thai Q1 GDP grows 1.5% y/y, above forecast


BANGKOK: Thailand's economy expanded 1.5% in the first quarter from a year earlier, official data showed on Monday, beating analysts' expectations.

On a quarterly basis, Southeast Asia's second-largest economy grew a seasonally adjusted 1.1% in the January-March quarter, data from the National Economic and Social Development Council showed.

The quarterly growth meant the economy avoided a technical recession, after it had contracted by a revised 0.4% in the final quarter of 2023.

Economists in a Reuters poll had forecast gross domestic product (GDP) to expand 0.8% in the March quarter from a year earlier and 0.6% from the previous three months.

In the fourth quarter of 2023, GDP grew an annual 1.7%.- Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Thailand , GDP ,

   

Next In Business News

Oil posts weekly gain on solid 2024 demand outlook
PPB Group buys Techbond stake
Prabowo aims to raise Indonesia debt-to-GDP ratio toward 50%
Laundry Care ventures into linen rental business
Oriental Kopi files for Bursa IPO
BHIC wins RM1bil govt job
MI Technovation prepares for chip recovery
Local furniture export outlook hinges on US housing market
Luxury labels slash prices to attract wary shoppers
Delay in rate cuts but bonds rally

Others Also Read