Thailand’s economy has passed its lowest point and is expected to contract less than previously expected this year due to a recovery in consumption, senior officials said.
“We can say that our lowest point was in the second quarter,” Danucha Pichayanan, head of the National Economic and Social Development Council, told business executives at a dinner talk organised by Thairath on Wednesday.
A recovery in agricultural goods prices also helped consumption, he said.
Official third-quarter gross domestic product (GDP) data is due to be released on Monday.
“GDP will be negative this year, but less so than expected due to a recovery in consumption,” Finance Minister Arkhom…
