Thailand: GDP surprised to the upside in Q2 – UOB

Economist at UOB Group Enrico Tanuwidjaja reviews the latest GDP figures in Thailand.

Key Takeaways

“Thai GDP expanded by 2.5% y/y in 2Q22, faster compared to 2.3% in 1Q22 as household consumption continue to improve as the economy reopens more sustainably.”

“We are much more sanguine for growth momentum in the second half of the year (3Q and 4Q will likely grow circa the 4% region).”

“We keep our 2022 GDP forecast unchanged at 3.2% and to accelerate further to 3.7% next year.”