Thailand Q2 GDP better than forecast, full-year outlook downgraded
BANGKOK, Aug 16 (Reuters) – Thailand’s economy grew at a faster than expected pace in the second quarter helped by higher exports and government spending, official data showed on Monday, even as the country struggled with fresh coronavirus outbreaks and lockdown measures.
Southeast Asia’s second-largest economy expanded a seasonally adjusted 0.4% in the second quarter from the previous quarter, data from the National Economic and Social Development Council showed, versus a forecast 1.4% drop in a Reuters poll.
From a year earlier, gross domestic product (GDP) grew 7.5% in the June quarter, beating the 6.4% rise forecast by economists, due largely to a GDP slump last year when the pandemic first hit.
The agency cut its GDP outlook for the full year to 0.7-1.2% from a previous forecast of 1.5%-2.5% growth.
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