Thailand Q1 GDP contracts 2.6pct y/y, less than expected

18-May-2021 Intellasia | Reuters | 6:54 AM Print This Post

Thailand’s economy shrank in the first quarter from a year earlier as coronavirus outbreaks hurt consumption and tourism, but the fall was less than expected.

Southeast Asia’s second-largest economy contracted 2.6 percent in the March quarter from a year earlier, data from the National Economic and Social Development Council showed on Monday, versus a forecast 3.3 percent drop in a Reuters poll.

On a quarterly basis, gross domestic product (GDP) rose a seasonally adjusted 0.2 percent in the first quarter, beating the 0.8 percent drop forecast by economists.

The agency cut its GDP outlook for the full year to 1.5%-2.5 percent from a previous forecast of 2.5%-3.5 percent growth.


Category: Thailand

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