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U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Thailand’s economy likely grew at its fastest pace in over two years in Q4 2023, driven by a surge in foreign tourists and robust exports, despite weak domestic demand. According to a Reuters poll of 15 economists, GDP expanded by 3.9% year-over-year, up from 3.0% in the previous quarter, with forecasts ranging between 3.1% and 4.6%.
Economists highlighted that Thailand’s export sector remained strong, particularly in services, benefiting from a booming tourism industry. However, domestic consumption showed signs of stalling, despite government stimulus efforts. On a quarterly basis, GDP grew a seasonally adjusted 0.7%, slowing from 1.2% in Q3.
Manufacturing faced challenges, with Moody’s economist Eugene Tan citing weakened demand in the auto sector as a key factor. Additionally, private consumption, a major driver of GDP, faltered, signaling broader economic weaknesses.
For 2024, the government projects 3.0% growth, up from 1.9% in 2023. However, Bank of Thailand Governor Sethaput Suthiwartnarueput warned that weak consumer demand might cap growth at around 2.7%, aligning with Reuters’ poll median.
Economic uncertainties remain, with China’s slowdown, weak global demand, and rising U.S.-China trade tensions posing risks. Looking ahead, a separate Reuters poll predicts Thailand’s growth will average 2.9% in 2025, while Deputy Finance Minister Julapun Amornvivat estimates a higher 3.5%.
