Thailand's Economy Slows in Q3, Prompting Stimulus Plan Despite Opposition
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Thailand's economic growth slowed to 1.5% year-on-year in Q3, below forecasts of 2.2% growth.
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Manufacturing and exports slumped, while tourism partially recovered.
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The disappointing data supports the government's planned $14B cash handout program.
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The central bank narrowed 2023 GDP growth forecast to 2.5% from 2.5-3% previously.
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The government aims to accelerate annual growth to 5% with stimulus, despite opposition.