Thailand's slow economic recovery may stagnate, and it may slip into contraction again in the third quarter of this year. This is mainly because the epidemic prevention restrictions continue, and domestic consumption and tourism are hard to cheer up.
The second-largest economy in Southeast Asia experienced the worst recession since the Asian financial crisis in 1998 because of the COVID-19, and finally got out of the trough in the second quarter of this year and regained growth. However, the third quarter may not be good again.
Reuters's survey of 13 economic analysts shows that the Thai economy will experience negative growth in the third quarter of this year, shrinking by about 0.8%.
Thai authorities will announce the third-quarter gross domestic product (GDP) report on the 15th.
Laid, Asia market analyst of Capital Economics, a London-based economic research company, said: "The GDP data for the third quarter ... is probably not very good. Although the border has been opened recently, the tourism industry is still struggling and the recovery of this economy is slow. We predict that the GDP will not return to the pre-crisis level before the middle of next year. "