Financial News: Thai Economy Expands At Faster Pace

Thai Economy Expands At Faster Pace

08/19/2024 - 02:59:00 (RTTNews)

(RTTNews) - Thailand's economy expanded at a faster pace in second quarter, data from the Office of the National Economic and Social Development Council showed on Monday.

Gross domestic product expanded 2.3 percent on a yearly basis in the second quarter after rising 1.6 percent in the first quarter. The rate also exceeded economists' forecast of 2.1 percent.

Quarter-on-quarter, GDP advanced 0.8 percent but weaker than the 1.2 percent expansion seen in the prior quarter. Economists had forecast a quarterly growth of 0.9 percent.

In the first half of 2024, the economy posted an expansion of 1.9 percent.

The economy is projected to grow in the range of 2.3 percent - 2.8 percent.

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