(RTTNews) - Thailand’s gross domestic product or GDP rose a seasonally adjusted 1.3% in the third quarter, slower than a 2.2% growth in the second quarter, the Office of the National Economic and Social Development Board said Monday. Economists expected the economy to grow 2.3%. This was the second consecutive of increase in GDP, after four consecutive quarters of contraction, indicating a technical recovery of the economy.

Year-on-year, the GDP declined 2.8% in the third quarter, but slower than a 4.9% fall in the second quarter. On a yearly basis, this is the fourth consecutive quarter of decline. Economists expected a 3.2% fall in GDP.

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