Southeast Asia’s second-largest economy grows 1.4 percent in the last quarter of 2022 amid hopes for tourism-led recovery.
Thailand’s economic growth slowed more than expected in the fourth quarter of 2022 as exports and manufacturing declined but a rebound in the vital tourism sector should continue to boost the recovery this year amid weaker global demand.
Southeast Asia’s second-largest economy expanded 1.4 percent in the October-December period from a year earlier, data from the National Economic and Social Development Council (NESDC) showed on Friday.
On a quarterly basis, gross domestic product (GDP) contracted a seasonally adjusted 1.5 percent in October-December, missing expectations for a 0.5 percent rise.
In 2022, the tourism-dependent economy expanded by 2.6 percent, after growing by 1.5 percent in the previous year, which was among the slowest growth rates in…
