Thai economy lifts in Q3 on back of domestic demand
BANGKOK--Thailand's economy improved more than expected in Q3, with GDP rising from minus 12.2% in Q2 to minus 6.4%. The turnaround was broad-based, except for tourism. Notably, final domestic demand in Q3 more than recouped its losses recorded in Q2.
But while Thailand's economy is on the mend, a full-bodied recovery will have to wait until the global pandemic is under control and tourism inflows resume on a meaningful scale, according to ANZ Bank.
Speedier-than-expected vaccine developments would brighten the outlook, but these could be countered by political instability, ANZ says.