Thailand Monthly Economic Monitor, September 2024
Economic activity improved, driven by external demand for exports and tourism. Manufacturing growth turned positive, supported by a surge in goods exports. However, internal drivers weighed on growth. Private consumption growth decelerated, impacted by stricter credit conditions. The acceleration of fiscal spending proved slower than expected, but a higher FY25 budget spending could support growth. The revised digital wallet is expected to boost gross domestic product (GDP) growth in the fourth quarter of 2024. The Thai baht appreciated driven by expectations of the Federal Reserve’s easing cycle and a persistent current account surplus. Inflation remained among the lowest in emerging markets, falling to 0.4 percent, due to lower energy prices; core inflation remained subdued due to weak domestic demand.
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| Format: | Brief biblioteca |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2024-10-23
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| Subjects: | ECONOMIC GROWTH, INFORMATION AND COMMUNICATION TECHNOLOGIES, DECENT WORK AND ECONOMIC GROWTH, SDG 8, INDUSTRY, INNOVATION AND INFRASTRUCTURE, SDG 9, |
| Online Access: | http://documents.worldbank.org/curated/en/099602009242413330/IDU1fa33c1a21f50314ac118062157e09275ce1a https://hdl.handle.net/10986/42285 |
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| Summary: | Economic activity improved, driven by
external demand for exports and tourism. Manufacturing
growth turned positive, supported by a surge in goods
exports. However, internal drivers weighed on growth.
Private consumption growth decelerated, impacted by stricter
credit conditions. The acceleration of fiscal spending
proved slower than expected, but a higher FY25 budget
spending could support growth. The revised digital wallet is
expected to boost gross domestic product (GDP) growth in the
fourth quarter of 2024. The Thai baht appreciated driven by
expectations of the Federal Reserve’s easing cycle and a
persistent current account surplus. Inflation remained among
the lowest in emerging markets, falling to 0.4 percent, due
to lower energy prices; core inflation remained subdued due
to weak domestic demand. |
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