{"id":113770,"date":"2021-02-22T05:24:56","date_gmt":"2021-02-22T05:24:56","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113770"},"modified":"2021-02-22T05:24:56","modified_gmt":"2021-02-22T05:24:56","slug":"thai-gdp-contraction-slows-in-q4","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/thai-gdp-contraction-slows-in-q4\/","title":{"rendered":"Thai GDP Contraction Slows In Q4"},"content":{"rendered":"<p> Thailand&#8217;s <span>economy<\/span> contracted at a slower pace in the fourth quarter underpinned by household and government spending, the National Economic and Social Development Council said Monday.<\/p>\n<p>Nonetheless, the <span>coronavirus<\/span> pandemic pushed the economy into its worst recession since the Asian Financial Crisis in 1998.<\/p>\n<p>Gross domestic product fell 4.2 percent year-on-year in the fourth quarter, slower than the 6.4 percent decline in the previous quarter and the economists&#8217; forecast of -5.4 percent. <\/p>\n<p>On a quarterly basis, GDP grew 1.3 percent but weaker than the 6.2 percent growth logged in the third quarter. Economists had forecast an expansion of 0.8 percent. <\/p>\n<p>In 2020, the economy contracted 6.1 percent, reversing an expansion of 2.3 percent in 2019. This was the biggest fall since 1998, when GDP fell 7.6 percent.<\/p>\n<p>The NESDC forecast the economy to grow 2.5-3.5 percent this year underpinned by global recovery, fiscal stimulus and the rebound in domestic private demand. <\/p>\n<p>The expenditure-side breakdown showed that private consumption expenditures climbed 0.9 percent, reversing a 0.6 percent fall in the third quarter. <\/p>\n<p>At the same time, government expenditure advanced 1.9 percent albeit slower than the 2.5 percent increase seen in the prior quarter. <\/p>\n<p>Total investment decreased by 2.5 percent, continued from a reduction of 2.6 percent in the previous quarter.<\/p>\n<p>Exports decreased 21.4 percent and imports were down 7 percent in the fourth quarter. <\/p>\n<p>After falling 0.4 percent in 2019, headline inflation is seen in the range of 1-2 percent. <\/p>\n<p>Source: <a href=\"https:\/\/www.rttnews.com\/3169607\/thai-gdp-contraction-slows-in-q4.aspx?type=ts\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thailand&#8217;s economy contracted at a slower pace<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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