Growth of the Thai economy in the third quarter of 2013 was weaker than expected from both private and public spending. Recovery in exports has not gained traction. Looking ahead, there are higher downside risks to growth stemming from delay in government investment and fragile private confidence, which could be compounded by ongoing political situation. In addition, exports might not benefit fully from prospective global economic recovery. Inflationary pressure remains subdued, while private credits decelerated in line with the economy.