Thailand’s economy expected to post muted recovery
Thailand’s economic expansion is expected to recover modestly in the third quarter from the slowest pace in almost five years which was weighed down by a strong local currency.
GDP likely rose 2.8% in three months through September from a year earlier. This was according to the median estimate in a Bloomberg survey of economists though further data will be released on Monday.
The country’s exports and tourism had been taken aback from the Baht’s 9.2% climb against the Dollar in the past 12 months as well as from a global economic slowdown sparked from U.S.-China trade tensions.
“The negative impact from weak exports has spread to local investment and consumption,” said Somprawin Manprasert, chief economist at Bank of Ayudhya Pcl in Bangkok. “The economy is actually more fragile now. Any shock, even a small one, can derail the economic recovery.”
The government has said it will implement more stimulus if needed, adding it into a package of steps announced worth more than $10 billion.