Thailand's economy expanded for the first time in three quarters in July-September but at a slower pace than expected, suggesting the central bank will keep rates low to support growth in the face of still-weak domestic demand.
Southeast Asia's second-biggest economy after Indonesia expanded 1.3 percent in the third quarter from the previous three months, government data showed on Monday. That was up from a revised flat reading in the prior quarter but missed expectations for 1.7 percent growth in a Reuters poll of economists.
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Compared with a year earlier, third-quarter gross domestic product rose 2.7 percent, against 2.9 percent forecast in the Reuters poll and a revised 2.9 percent increase in the previous three months.
The government said third-quarter growth was driven by strong gains in tourism. But household spending fell 1.2 percent from a year earlier due to lower spending on autos after a first-car subsidy scheme expired, while private investment dropped 3.3 percent year-on-year, it said.