Economy shrinks 6.4% y/y in Q3, less than expectedPeople shop at a market in Bangkok's Yaowarat district as recovering domestic demand boosts the economy. The figure was better than the median estimate of 8.8% contraction in a Bloomberg survey of 19 economists. The council also raised its full-year forecast to a 6% contraction, from an earlier estimate of a 7.3% to 7.8% drop. A strengthening baht and high level of unemployment remain risks for growth next year, he said. It also forecast a growth of 3.5% to 4.5% in 2021.

Source: Bangkok Post November 16, 2020 03:00 UTC