Picture courtesy of Stay in Thailand.
With an annual growth rate of 1.5% recorded in the third quarter, Thailand’s economy has shown a slower expansion compared to predictions, according to data released today, November 20.
The National Economic and Social Development Council revealed that, from July to September, the economy of Southeast Asia’s second-largest country experienced a seasonally adjusted growth of 0.8% every quarter.
However, these figures fall short of economists’ expectations. As per a poll conducted by Reuters, the gross domestic product (GDP) was predicted to increase 2.4% year-on-year and 1.2% quarter-on-quarter. The slower growth rate has brought a new perspective to the economic progression of the country and could impact future predictions and strategies.
While the economy showed growth, the slower-than-anticipated rate indicates…
