RHB | Thailand | 1Q GDP Growth Accelerates From Low Base, But Downside Risks Persist

Economic Research	19 May 2015
Thailand
Economic Highlights
1Q GDP Growth Accelerates From Low Base, But Downside Risks Persist Thailand’s real GDP expanded at a rate of 3.0% y-o-y in 1Q 2015, improving upon its +2.1% growth in 4Q 2014 and +1.0% growth registered in 3Q 2014. Moreover, the 1Q GDP figure came in above our forecast of +2.7% but below consensus’ median estimate of +3.4%. The 3.0% figure is slightly bloated as it partially reflects the weak base from a year ago. After seasonal adjustments the GDP is shown to have grown by only 0.3% on a q-o-q basis. Economist:  Vincent Loo Yeong Hong  | +603 9280 2172
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