BANGKOK, Jan. 31 (Xinhua) -- Thailand's economic growth slowed in the final quarter of 2023, weighted down by softening tourist expenditures and merchandise export value due to muted global demand, the Bank of Thailand (BOT) said on Wednesday.
Private consumption and service sector activity continued to improve and remained the primary drivers of the Thai economy in the fourth quarter last year, the BOT said in a statement.
Tourism and commerce are projected to drive business trends in the first quarter of this year. However, manufacturing will improve marginally, while the real estate sector will continue to recover slowly, said Chayawadee Chai-Anant, assistant governor at BOT's Corporate Relations Group.
Looking forward, the central bank will keep an eye on the recovery of global trade, the impact of geopolitical conflicts, and government policies, Chayawadee told a news conference. ■
