Thai first quarter GDP rises 2.8% year-on-year, slowest pace in more than four years

[webfact]

Thai first quarter GDP rises 2.8% year-on-year, slowest pace in more than four years

 

FILE PHOTO: A view of Chao Phraya river in Bangkok, Thailand August 30, 2016. Picture taken August 30, 2016. REUTERS/Chaiwat Subprasom

 

BANGKOK (Reuters) - Thailand's trade-dependent economy grew less than expected and at its slowest annual pace in more than four years in the first quarter, due mainly to softer exports.

 

Southeast Asia's second-largest economy expanded 2.8% from a year earlier, data showed on Tuesday, missing the 3.0% forecast in a Reuters poll.

For October-December 2018, the annual pace was revised to 3.6%, instead of 3.7%.

 

On a quarterly basis, the economy grew 1.0% on a seasonally adjusted basis, less than the 1.4% forecast in the Reuters poll.

 

The national planning agency cut its 2019 GDP growth forecast to a range of 3.3-3.8%, versus 3.5-4.5% seen in February. It lowered the export outlook to 2.2% from 4.1% predicted in February.

 

(Reporting by Kitiphong Thaichareon and Orathai Sriring; Editing by Richard Borsuk)

 

-- © Copyright Reuters 2019-05-21

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[zydeco]

Reliable number. Honestly arrived at. You can count on it.

[AtoZ]

Let's bet what the final number will be for 2019

 

I'll start:

GDP growth under 2%

Export growth negative

[toenail]

Almost a 3% increase- better than no growth or a decrease. ( Is your glass half full or half empty?) 

[Yme]

5 hours ago, AtoZ said:

Let's bet what the final number will be for 2019

 

I'll start:

GDP growth under 2%

Export growth negative

GDP 2.8-3.2%
Exports 1.2%

 

[emptypockets]

Blame lays squarely at the feet of the fleeing pensioners pulling their millions out of the Thai economy en masse.

[DrTuner]

8 hours ago, AtoZ said:

Let's bet what the final number will be for 2019

 

I'll start:

GDP growth under 2%

Export growth negative

GDP -15%

Exports -12% 

Tourism -58%

 

What's the bet, bottle of laukhao?

[Nowisee]

Not my country, not my concern, not my problem to ponder.  Besides, can you believe anything they report?
The pleasure of not being thai.

[DrTuner]

1 minute ago, Nowisee said:

Not my country, not my concern, not my problem to ponder.  Besides, can you believe anything they report?
The pleasure of not being thai.

As long as you can isolate yourself from the rest of the society. Countries in depression aren't very jolly to be in. 

[sammieuk1]

Reformed wine drinking expats to blame with an apocalyptic exchange rate for good measure????  

[mommysboy]

Putting the spin on bad figures.