Despite return of tourists, Thai’s economic growth slows in Q2

Foreign tourists have returned to Thailand, but the country’s economic growth remained slow in Q2 of this year, according to the Thai Office of National Economic and Social Development Council (NESDC). The agency said Thailand’s economy grew 2.5% in the April-June quarter as returning foreign tourists failed to offset high inflation and concerns over regional tensions. The Q2 growth was well below the anticipated growth of 3%. The NESDC also revised the expected full-year growth rate bracket from 2.5% to 3.5%, to 2.7% to 3.2%. Inflation in June reached 7.7% and was at 6.5% for the quarter, the NESDC said.