Thailand's GDP growth for the second quarter of 2024 has decelerated, registering at 0.80%. This marks a notable decline from the previous quarter's growth rate of 1.10%, according to data updated on August 19, 2024.
The Quarter-over-Quarter comparisons reveal a diminishing economic momentum, as the current 0.80% growth for Q2 pales against the robust 1.10% increase recorded in Q1 2024. This downward trend raises concerns over the country's economic resilience and potential headwinds affecting various sectors.
Analysts are eying several factors that could have contributed to this slowdown, including potential disruptions in trade, internal political uncertainty, and fluctuating foreign investments. As the year progresses, the focus will be on how Thailand navigates these challenges to reignite and sustain its economic growth.
