World Bank2023-03-142023-03-142023-03-14https://openknowledge.worldbank.org/handle/10986/39525Growth decelerated more than expected to 1.4 percent in Q4 2022 amid the global economic slowdown. Goods trade contracted while manufacturing production and investment weakened. However, robust private consumption and tourism recovery continued to strengthen the outlook. Headline inflation declined but the second-round impact on domestic prices remained. This prompted the Bank of Thailand to continue monetary policy normalization and the government to extend energy-related subsidies. The current account balance returned to surplus in Q4 2022 on the back of substantially improved tourism receipts, supporting the Thai baht.enCC BY-NC 3.0 IGOPRIVATE CONSUMPTIONTOURISMTRADE BALANCEINFLATIONPUBLIC DEBTCONTINUING ENERGY SUBSIDYCURRENT ECONOMIC DATAMONTHLY UPDATEECONOMIC SLOWDOWNBriefWorld Bank10.1596/39525