InfoQuest, (May 21, 2019) -- Thailand's GDP grew 2.8 percent year-on-year in the first quarter, after a 3.6 percent expansion logged in the previous quarter, according to the National Economic and Social Development Board (NESDB). The drivers in expenditures included the expansion of private consumption and investment, as well as growth spurt in government spending while the exports were weakened amid the global economic slowdown and trade barriers. With regard to production, the growth in agriculture, power and gas sectors has accelerated, while industrial, wholesale and retail, accommodation and food services, and transportation and construction sectors all experienced slowdown with seasonal adjustments made.
The NESDB forecast 3.6 percent GDP growth for the year 2019, and slashed the forecast to a range of 3.3-3.8 percent from 3.5-4.5 percent.
Source: InfoQuest, by Kasamarporn Kittisamphan / Rachada / Wilawan, translated by Xinhua Silk Road
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