Thailand's economic growth took a hit as the country's GDP contracted by 0.6% in the fourth quarter of 2023, according to data released on February 19, 2024. This decline marks a significant turnaround from the previous quarter when the GDP growth rate stood at 0.8% in the third quarter of 2023.
The Quarter-over-Quarter comparison reveals a notable shift in economic performance, with the current indicator showing a contraction compared to the previous quarter. The decrease in GDP growth raises concerns about the country's economic stability and highlights the challenges faced by Thailand in sustaining robust economic growth in the face of global uncertainties. Analysts are closely monitoring the situation to assess the impact of these developments on Thailand's overall economic outlook and potential policy responses moving forward.
