Thailand’s [economy][1] shrank at a slower pace in the third quarter, the National Economic and Social Development Council, or NESDC, reported Monday.
Gross domestic product fell 6.4 percent on a yearly basis in the third quarter, slower than the 12.1 percent decline posted in the second quarter. GDP was expected to shrink 8.6 percent.
On a quarterly basis, GDP expanded 6.5 percent, in contrast to a 9.9 percent fall in the preceding period. Economists had forecast a moderate growth of 3.8 percent.
The government forecast the economy to grow within the range of 3.5 - 4.5 percent next year.
The headline inflation is expected to be in a range of 0.7 - 1.7 percent and the current account tends to register a surplus of 2.6 percent of GDP in 2021.
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