BANGKOK, Aug 21 (AFP): Thailand registered lower than expected economic growth of 1.8 per cent in the second quarter, official data released Monday showed.
Officials blamed a slowdown in exports, which fell 5.7 per cent year-on-year, for the weak pace.
The Office of the National Economic and Social Development Council (NESDC) cut its forecast for 2023 to between 2.5 and 3 per cent, citing poor global conditions.
"The growth in the second quarter is lower than expected due to the slowdown of exports which fell for three quarters respectively since last year," said Danucha Pichayanan, secretary-general of the NESDC.
Output from manufacturing fell 3.3 per cent and government spending also dropped 4.3 per cent, the data showed.
Thailand posts lower than expected Q2 growth
FE Team | Published: August 21, 2023 23:22:29
Thailand posts lower than expected Q2 growth
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