22 August 2023 Emerging Asia Monitor Thai GDP Just Avoids a Contraction in Q2, Thanks Solely to Consumers

Thai GDP growth slowed to 1.8% year-over-year in Q2, from 2.6% in Q1, well short of expectations.
Still-punchy consumption helped avert an outright quarterly contraction, but spending is on thin ice.
Exports continue to face a rocky short-run outlook, though capex should reawaken by year-end.

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