Thai economy expands 1.6% in Q4, slowest pace in 5 years

BANGKOK (REUTERS) – Thailand’s trade-dependent economy grew at its slowest pace in five years in the fourth quarter of 2019, and less than expected, as exports declined and public spending slumped.

South-east Asia’s second-largest economy expanded 1.6 per cent in the October-December quarter from a year earlier, data showed on Monday (Feb 17), versus 2.1 per cent forecast in a Reuters poll and the third quarter’s revised 2.6 per cent growth.

In 2019, the economy grew 2.4 per cent, the slowest rate since 2014, and compared with analysts’ forecast of 2.4 per cent.

On a quarterly basis, the economy grew 0.2 per cent in the October-December quarter, the National Economic and Social Development Council said, less than the forecast 0.4 per cent growth.

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