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Thailand’s GDP growth slows further in Q4

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/02/2017 (12:28)
According to the data released by Thailand’s National Economic and Social Development Board, Thailand’s economic growth slowed further in Q4 of 2016 due to weak private consumption. Data shows that gross domestic product (GDP) grew 3% on a yearly basis, which was slower than the yearly growth of 3.2% in the previous quarter. Plus, it was marked as the slowest pace of growth since Q4 of 2015.

On a quarterly basis, GDP was up by 0.4% in Q4, which was mostly in line with the growth rate of 0.6% in the previous quarter.

For the full 2016, the country’s GDP was up by 3.2% when compared to 2.9% in 2015. This rate of growth matched the estimates of a growth of 3-4% for 2016.

Economists argue that the country’s economy might slow further in the following quarters in 2017 due to the slowdown in external demand, increasing household debt and political uncertainty.
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