Late September floods across 48 Thai provinces dealt 25.3 billion baht in economic damage in a 4-day period, depressing Q3 GDP growth by 0.55 percentage points in the central scenario. Bangkok suffered the heaviest loss (10.6 billion baht), followed by the Eastern and Central regions. Manufacturing and agriculture are the most exposed sectors, making this a material drag on an already-slowing economy—GDP growth had already decelerated from 2.8% YoY in Q1 to 1.9% in Q2.