Thailand's Q3 growth slows sharply—weak consumption and uncertainty weigh on economy

On November 14, 2025, a Reuters poll of economists projected Thailand's third-quarter GDP growth to slow sharply, with year-on-year growth dropping to around 1.6% from 2.8% in the second quarter; seasonally adjusted quarter-on-quarter growth was forecast to contract. The slowdown reflects weak household consumption and prevailing domestic political and policy uncertainty, which offset positive contributions from exports and tourism—sectors that had previously supported growth.

Economists warn that without a rebound in consumer and investor confidence, Thailand risks entering a prolonged period of economic stagnation. Given Thailand's role as a significant Southeast Asian economy, its slowdown could ripple through regional trade and supply-chain networks, affecting global commodity flows and capital allocation across Asia.