Economic growth in Thailand declined in the second quarter

GDP of Thailand grew by 4.6% in annual terms in the second quarter after an increase of 4.9% in the first quarter, according to data from the Office for Economic and Social Development. The pace of economic growth in Thailand has slowed mainly due to a slowdown in the tourism sector. Relative to the previous quarter, GDP grew by 1% after an increase of 2.1% a quarter earlier. The economy of Thailand in the first half of the year increased by 4.8%. According to the economist of the Capital Economics, Krystal Tan, the key factor of economic growth in the coming quarters will be infrastructure expenses. However, due to a weaker export demand, Tan expects a gradual slowdown in GDP growth.

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