J P M O R G A N Asia Pacific Economic Research 17 August 2026 Thailand: A sequential economic contraction in 2Q26 ... owing to the energy price shock and an unexpected drag from public-sector spending A sequential economic contraction in 2Q26 The National Economic and Social Development Council (NESDC) reported that GDP growth moderated to 1.9%oya in 2Q26 from 2.8% in 1Q26. This is slightly above the consensus forecast of 1.8% but undershoots our forecast of 2.5%. On a sequential, seasonally adjusted (sa) b ...