继2023年第四季度增长1.7%后，泰国2024年第一季度GDP同比增长1.5%，超过0.8%的预期。私人消费增长疲软（6.9%对第四季度的7.4%），而净贸易对服务出口的GDP有积极贡献，总出口增长（2.5%对第四季的4.9%）低于进口增长（5.3%对3.9%）。与此同时，固定投资比第四季度萎缩更多（-4.2%对-0.4%），而政府支出继续下降（-2.2%对-3.0%）。在生产方面，非农业活动稳定增长（2.0%），服务业增长（3.6%对3.9%），特别是批发和零售贸易（4.3%对5.1%）、信息和通信（6.7%对2.8%）以及运输和仓储（9.4%对7.0%）。与此同时，由于制造业产量的持续下降，农业（-3.5%对-0.6%）和工业（-1.2%对-1.5%）继续下降。NESDB将今年的GDP预期从之前的2.2%-3.2%修订为2.0%-3.0%。

Thailand’s GDP advanced 1.5% yoy in Q1 of 2024, beating expectations of 0.8%, following a 1.7% growth in Q4 of 2023. Private consumption expanded softer (6.9% vs 7.4% in Q4), while net trade contributed positively to the GDP from services export, with total exports rising (2.5% vs 4.9% in Q4) less than imports (5.3% vs 3.9%). Meanwhile, fixed investments shrank more than in Q4 (-4.2% vs -0.4%), while government spending continued to decline (-2.2% vs -3.0% in Q4). On the production side, activity in non-agriculture grew stable (at 2.0%) amid rises in the services sector (3.6% vs 3.9%), particularly in wholesale and retail trade (4.3% vs 5.1%), information and communication (6.7% vs 2.8%), and transportation and storage (9.4% vs 7.0%). Meanwhile, agriculture (-3.5% vs -0.6%) and industrials continued to drop (-1.2% vs -1.5%), due to a continual decline in manufacturing production. The NESDB revised its GDP outlook for this year to 2.0%-3.0% from a prior projection of 2.2%-3.2%.

泰国经济在2024年第一季度季度环比增长1.1%，超过市场预测的0.6%，同时扭转了第四季度下调0.4%的颓势。私人消费在强劲的支出和旅游活动中回升（第四季度为1.2%，而第四季度则为0.2%）。此外，净贸易对GDP的贡献略为积极，出口（1.3%对0.2%）和进口（5.0%对3.7%）进一步增长。与此同时，政府支出疲软（-0.1%对0.6%），而固定投资疲软（-3.1%对-1.9%）。就生产而言，非农业部门反弹（1.3%对-0.4%），工业产出复苏（0.2%对-0.4%，服务业活动增加（1.2%对0.7%）。相比之下，农业部门在前一时期增长后出现萎缩（-0.9%对0.3%）。虽然NESDB预计，继2023年1.9%的经济增长后，今年的经济增长率将在2.0%至3.0%之间，但曼谷最近表示，如果2024年第四季度推出包括一些现金发放在内的刺激计划，该国的GDP可能会达到3.3%。

Thailand’s economy expanded 1.1% qoq in Q1 of 2024, exceeding market forecasts of 0.6% while reversing from a downwardly revised 0.4% fall in Q4. Private consumption picked up amid robust spending and tourism activity (1.2% vs 0.2% in Q4). Also, net trade added a slightly positive contribution to the GDP, with exports (1.3% vs 0.2%) and imports (5.0% vs 3.7%) rising further. Meantime, government spending was sluggish (-0.1% vs 0.6%) while fixed investment stayed weak (-3.1% vs -1.9%). Production-wise, the non-agriculture sector rebounded (1.3% vs -0.4%), as industrial output recovered (0.2% vs -0.4%) and services activity gained traction (1.2% vs 0.7%). By contrast, the agriculture sector shrank after growing in the prior period (-0.9% vs 0.3%). While the NESDB expects the economy to grow between 2.0 to 3.0% this year following a 1.9% growth in 2023, Bangkok recently said that the country's GDP could hit 3.3% if a stimulus plan, including some cash handout, is launched in Q4 of 2024.

泰国商会大学的消费者信心指数从上月的63.0降至2024年4月的62.1。这是消费者士气连续第二个月下降，也是自去年12月以来的最低水平，因为人们担心全球经济放缓、能源价格上涨以及中东持续冲突。然而，该大学表示，在2024年下半年出台刺激增长的预算措施后，一些信心可能会恢复。

The University of the Thai Chamber of Commerce’s consumer confidence index decreased to 62.1 in April 2024 from 63.0 in the previous month. It was the second straight month of decline in consumer morale and the lowest level since last December, amid concerns about a global economic slowdown, rising energy prices, and an ongoing conflict in the Middle East. However, the university said some confidence could be restored after budget measures to stimulate growth are introduced in the second half of 2024.

泰国的商业信心指数从上月的49.6降至2024年4月的47.3。这是自2022年1月以来的最低读数，因为业绩（49.1对3月的53.9）、产量（48.6对53.6）和整体订单（45.3对49.9）的情绪恶化。另一方面，就业评估有所改善（51.6对50.5）。与此同时，三个月预期商业信心指数从三月份的51.9升至52.4。

The business confidence indicator in Thailand fell to 47.3 in April 2024 from 49.6 in the previous month. It was the lowest reading since January 2022, as sentiments deteriorated for performance (49.1 vs 53.9 in March), production (48.6 vs 53.6), and overall order books (45.3 vs 49.9). On the other hand, assessments for employment improved (51.6 vs 50.5). Meanwhile, the three-month expected business sentiment index rose to 52.4 from 51.9 in March.