Thailand’s economic recovery momentum gained traction thanks to quarter-on-quarter GDP growth in the third quarter, with exports and public investment expected as the main growth drivers for next year, says a research house.
GDP contraction has been upgraded to 6.4% from a 10.3% decline projected previously, attributed to an improved revision of all economic indicators, according to Krungsri Research, a research unit under Bank of Ayudhya.
The upward revision for this year’s economic outlook reflects better than expected data in the third quarter, accelerated public spending and improved merchandise exports, said Somprawin Manprasert, chief economist…
