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Economy

Thailand's GDP contraction moderates to 6.4% in Q3

Worst days of COVID-19 are already past, economic planning agency insists

BANGKOK -- Thailand's economic contraction slowed in the third quarter as exports and domestic tourism started picking up from the pandemic-induced slump, the kingdom's economic planning agency said Monday.

Real gross domestic product shrank 6.4% on the year for the three months ended September, the Office of the National Economic and Social Development Council reported. GDP had fallen 12.1% the quarter before that -- the most since the second quarter of 1998, which logged a 12.5% contraction due to the Asian financial crisis.

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