Thailand’s SET Index plunged sharply not long on Friday after the report of lower-than-expected economic growth in 4Q22, while investors were concerned about the Fed’s rate cycle.
SET Index plunged by nearly 10 points or 0.57% to as low as 1,648.69 points.
Growth in the final quarter of 2022 came in at 1.4%, much lower than a 3.5% growth predicted by Reuters poll. On a quarterly basis, GDP fell 1.5% in October-December, missing expectations for a 0.5% rise.
Meanwhile, economy grew 2.6% as a whole in 2022, up from 1.5% the previous year,but lower than a 3.0% forecast.
The National Economic and Social Development Council (NESDC) cut its earlier prediction of 3% to 4% growth for the economy this year to a range of 2.7% to 3.7% growth.