Thailand's Q1 economy grew 1.5% YoY, beating estimates, driven by tourism and private consumption.

Thailand's economy grew 1.5% year-on-year in Q1, surpassing expectations despite a slowdown in tourism and private consumption. The growth, driven by exports, eased pressure on the central bank to lower borrowing costs. The National Economic and Social Development Council's data showed that the economy expanded 1.1% quarter-on-quarter, avoiding a technical recession after contracting 0.4% in Q4 2022.

May 20, 2024
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