Thailand's Q2 2026 GDP growth slowed to 1.9% year-on-year, the weakest in ASEAN, down from 2.8% in Q1 and contracting 0.2% quarter-on-quarter. Headwinds include declining private consumption (1.9%), weak government spending (0.2%), and a rare contraction in public investment (−1.6%). Key drags span agriculture, manufacturing, hospitality, and construction. However, private investment surged 13.4% (highest in 13.5 years) and exports grew 17.6%, driven by semiconductors and telecom equipment. Officials expect improvement in Q3 as commodity pressures ease, and revised full-year growth forecast up to 2.2%.