Korea: Economy records first contraction since Q4 2022 in the second quarter
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Government Consumption in Thailand
The Thai economy recorded average government consumption growth of 1.9% in the decade to 2022. In 2022, government consumption growth was 0.2%.
Thailand Government Consumption Chart
Note: This chart displays Government Consumption (ann. var. %) for Thailand from 2014 to 2023.
Source: Macrobond.
Thailand Government Consumption Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Government Consumption (ann. var. %) | 1.6 | 1.4 | 3.7 | 0.1 | -4.6 |
Nomura analysts commented on the outlook: “We do not expect the strong growth in private consumption to be sustained in the following quarters amid the continued drop in average monthly wage growth […] Furthermore, the tightening in credit conditions should weigh on big-ticket consumption such as car sales, while the catch-up in FY24 budget disbursement should be constrained by the significant delay in the budget enactment.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Thai government consumption projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable government consumption forecast available for Thai government consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Thai government consumption projections.
Want to get access to the full dataset of Thai government consumption forecasts? Send an email to info@focus-economics.com.
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