Thai Economy Expands 0.4% QoQ in Q2


The Thai economy grew by 0.4 percent on a quarter-on-quarter seasonally adjusted basis in the second quarter of 2015, accelerating from a 0.3 percent expansion in the previous quarter and beating market consensus. An increase in private consumption and a rebound in government spending offset a decline in investment and exports.

In the second quarter of 2015, private consumption grew by 1.0 percent, accelerating from a 0.7 percent expansion in the preceding quarter. Government spending expanded 3.0 percent, following a 0.5 percent contraction in the March quarter. Gross fixed capital formation dropped by 1.0 percent, after registering a 3.9 percent fall in the previous quarter. Exports dropped 1.0 percent, as compared to a 3.9 percent contraction in the first quarter. Imports fell 2.2 percent, following a 0.6 percent drop in the previous quarter.

On the production side, agriculture declined by 1.0 percent, following a 1.5 percent contraction in the March quarter. Manufacturing dropped 1.8 percent, as compared to a 0.5 percent decline in the preceding quarter. Wholesale and retail trade, repairing expanded by 0.3 percent, slowing from a 0.8 percent growth and financial intermediation grew 2.0 percent, after registering a 2.3 percent expansion in the March quarter.

Year-on-year, the GDP advanced 2.8 percent, slowing from a 3.0 percent  expansion in the March quarter. 
For 2015, the Thailand's economic planning agency (NESDB) projected GDP growth to be between 2.7 percent to 3.2 percent, from an earlier estimates of  3.0 percent to 4.0 percent. 

Thai Economy Expands 0.4% QoQ in Q2


NESDB l Rida Husna l rida@tradingeconomics.com
8/17/2015 11:12:59 AM