Thai GDP Expands 1.0% QoQ in Q3

The Thai economy grew by 1.0 percent on a quarter-on-quarter seasonally adjusted basis in the September quarter of 2015, accelerating from a downwardly revised 0.3 percent expansion in the previous quarter and beating market consensus. It is the fastest growth since the fourth quarter of 2014, as increase in private consumption and a rebound in exports offset a decline in government expenditure and investment.

In the third quarter of 2015, private consumption grew by 0.9 percent, slowing from a 1.0 percent expansion in the preceding quarter. Government spending declined by 1.8 percent, following a 2.0 percent growth in the June quarter. Gross fixed capital formation also dropped by 0.8 percent, after registering a 3.9 percent fall in the previous quarter. Exports grew by 0.1 percent, as compared to a -1.0 percent contraction in the second quarter. Imports rose 0.8 percent, following a 1.9 percent drop in the previous quarter.

On the production side, agriculture declined by 2.3 percent, following a 1.3 percent contraction in the June quarter. Manufacturing expanded by 1.9 percent, as compared to a 1.4 percent decline in the preceding quarter. Wholesale and retail trade, repairing expanded by 1.3 percent, accelerating from a 0.4 percent growth and financial intermediation grew by 0.5 percent, after registering a 1.6 percent expansion in the June quarter.

Year-on-year, the GDP advanced 2.9 percent, slightly accelerating from a 2.8 percent  expansion in the June quarter.

For 2015, the Thailand's economic planning agency (NESDB) now projected the economy to grow by 2.9 percent, following an earlier forecasts of 2.7 percent to 3.2 percent. Exports for the year is expected to fall by 5.0 percent.

Thai GDP Expands 1.0% QoQ in Q3

NESDB | Rida Husna |
11/16/2015 4:20:16 PM