Thai and Philippine Economies Show Mixed Growth in Q1 2024
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South Korea's economic growth in the third quarter weakened slightly, with high borrowing costs affecting consumer spending and slow export recovery. GDP for the July-September period is projected to have grown 0.5% quarter-on-quarter on a seasonally adjusted basis. However, the fragile global outlook remains a drag on offshore demand and on Asia's fourth-largest economy .
Similarly, Thailand's economy grew less than expected in the third quarter, mainly due to weak exports. GDP grew 1.5% on-year in July-September, lower than the forecasted 2.2% by the National Economic and Social Development Council (NESDC). The decline in exports was cited as the main reason for the lower growth. The NESDC now expects the economy to grow at the low end of the forecasted range for the year .
Thailand's ...
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