The Bank of Thailand (BoT) predicts gross domestic product (GDP) growth of 3.7% in the final quarter this year, attributed to the low-base effect amid a continued recovery driven by private consumption and tourism.
The central bank forecasts 2023 GDP growth of 2.4%.
The high growth outlook for the last quarter is the result of a low-base effect year-on-year, said Chayawadee Chai-anant, assistant governor of the corporate relations group at the BoT.
However, third-quarter GDP growth was lower than the bank’s estimate because of a slowdown in manufacturing, in line with sluggish external demand, she said.
The National Economic and Social Development Council (NESDC) announced third-quarter GDP growth of 1.5%, down…
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