Thailand’s state planning unit has cut its projection for 2016 GDP, citing a slowdown in consumption and public spending. Annual growth in public investment and household spending slowed in the third quarter while private investment contracted. This is likely due in part to low household income growth and sluggish private investment. We expect Thailand's GDP growth to remain at a moderate pace in 2017 before accelerating slightly in 2018. Don Nakornthab, senior director at the Bank of Thailand's macroeconomic and monetary policy department, said that the recently announced 3.2% GDP growth in the third quarter is close to the BoT's estimation.

Source: Bangkok Post November 21, 2016 23:49 UTC