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Third quarter economic growth slows

Nov 19. 2018
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By The Nation

Economic growth in the third quarter decelerated to 3.3 per cent, the National Economic and Social Development Board announced on Monday.

Gross domestic product grew 3.3 per cent in the third quarter this year, compared to 4.6 per cent in the previous quarter.

Growth was driven mainly by domestic demand while external demand slowed, Thosaporn Sirisumphand, secretary general of the NESDB told a press conference on Monday.

Household consumption rose 5 per cent year on year, accelerating from 4.5 per cent in the second quarter; private investment expanded by 3.9 per cent, compared to 3.2 per cent in the previous quarter; and public investment increased by 4.2 per cent, down from 4.9 per cent.

Exports of goods and services meanwhile declined by 0.1 per cent in contrast to a rise of 6.8 per cent in the second quarter.

The state think-tank forecast full year growth at 4.2 per cent and 2019 growth at between 3.5-4.5 per cent.

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