Thai Q4 GDP grows slightly faster than forecast

BANGKOK — Thailand’s economy grew slightly more than expected in the fourth quarter as higher domestic demand and tourism arrivals more than offset slower exports and government spending.

Southeast Asia’s second-largest economy expanded 0.8% in the October-December quarter from the previous three months on a seasonally adjusted basis, data showed on Monday, more than the 0.6% forecast in a Reuters poll. That compared with July-September’s 0.3% contraction, which was revised on Monday from no growth.

On an annual basis, growth was 3.7% in the October-December quarter, slightly more than expected, the National Economic and Social Development Council said. Economists had forecast 3.6%.

For July-September, annual growth was a revised 3.2%.

In 2018, the economy grew 4.1%, the fastest since 2012, against analysts’ forecast of 4.2%.

Growth in 2017 was revised up to 4.0% from 3.9%.

The agency maintained its 2019 GDP growth forecast to a range of 3.5-4.5% seen in Nov. It trimmed the export outlook to 4.1% growth from 4.6%.

Analysts polled by Reuters predict growth will slow to 4% this year. —