Thailand's economy grew by 2.8% in the first quarter


The growth of the Thai economy slowed in the first quarter, noting the slowest rates since the fourth quarter of 2014 due to the negative impact on exports of the US trade war with China. According to the Office of the National Economic and Social Development Council, GDP in the first three months of the year grew by 2.8% in annual terms, after increasing by 3.6% in the previous quarter. Economists had not expected such a sharp slowdown. They predicted a 3% rise from the same period a year earlier. In the past quarter, consumer spending also slowed down - to 4.6% from 5.4% a quarter earlier. At the same time, government spending showed an acceleration of growth rates up to 3.3% from 1.4%. Thailand exported goods and services 4.9% less than a year earlier. In the fourth quarter, exports grew by 0.7%.

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