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Thailand’s economy sees slow growth in Q2

Thailand’s economy in April-June grew at a slower pace than in the previous quarter, but the National Economic and Social Development Board (NESDB) kept its yearly GDP growth forecast of the country at 4.2-4.7 percent.
Thailand’s economy sees slow growth in Q2 ảnh 1A supermarket in Thailand (Source: wsj.com)

Hanoi (VNA) - Thailand’s economyin April-June grew at a slower pace than in the previous quarter, but the NationalEconomic and Social Development Board (NESDB) kept its yearly GDP growthforecast of the country at 4.2-4.7 percent.

According to NESDB, Thailand’s GDP in the second quarter increased 1 percent fromthe previous three months on a seasonally adjusted basis.

NESDB also lifted its forecast of export growth of Thailandin 2018 to 10 percent. The agency forecasted that export activity will flourishthanks to improved economic development of the country’s trade partners.  

In the second quarter, Southeast Asia’s second-largest economy enjoyed export expansionof 12.3 percent compared to the same period last year.

However, its tourism growth decreased to 9.1 percent from15.4 percent in the first quarter.

Statistics from NESDB also showed that the private consumption expenditure of Thailand increased by 4.5 percent in thesecond quarter of 2018 compared to the same period last year, while private andpublic investment rose by 3.2 percent and 4.9 percent, respectively.

The Bank of Thailand (BoT) kept interest rates at 1.5 percent, close to therecord low level of April 2015. The bank’s upcoming policy meeting will takeplace on September 19, but analysts said the BoT will not change its policy in  2018.-VNA
VNA
#Thailand’s economy#slower pace#NESDB#GDP growth forecast#second quarter#private consumption expenditure#interest rates#Vietnamplus#Vietnam News#Vietnam News Agency
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