Consumption is forecast to slow in the fourth quarter, however, and November figures due later Friday will give a sense of the depth of any weakness. The change to the consumer-spending figure reflected upward revisions to spending on personal care and financial services, particularly portfolio management and investment advice. Inventories were revised lower on wholesale trade, especially nondurable goods, according to the report. The change in private inventories dragged down the rate of GDP growth by 0.03 percentage point in the quarter, revised from a boost of 0.17 point. Excluding the typically volatile trade and inventories components of GDP, final sales to domestic purchasers increased at a 2.2% pace that was revised from 2%.

Source: The Nation Bangkok July 02, 2022 13:07 UTC