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Covid-19 curbs impacted Thailand's economy. GDP slipped back to contraction in the third quarter, The Nation Thailand/ANN

BANGKOK: Thailand's economy slipped back to contraction in the third quarter, but the downturn was shallower than forecast, official data showed on Monday, as tougher coronavirus restrictions hit domestic activity and an already struggling tourism sector.

Southeast Asia's second-largest economy shrank a seasonally adjusted 1.1% in the September quarter from the previous three months, data from the National Economic and Social Development Council showed, versus a forecast 2.5% drop in a Reuters poll, and a revised seasonally adjusted 0.1% growth in the June quarter.

From a year earlier, gross domestic product (GDP) dropped 0.3% in July-September, better than a forecast 0.8% fall, and against a revised 7.6% growth in the previous three months.

The agency raised its GDP outlook for the full year to 1.2% from a previous forecast of 0.7-1.2% growth.

In 2022, the agency forecast 3.5-4.5% GDP growth. - Reuters



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