BANGKOK, July 3 (Reuters) - Thailand's economy is expected to grow between 2.2% to 2.7% this year as domestic demand remains fragile, a leading joint business group said on Wednesday, maintaining a previous forecast.
A slowdown in the automobile and property sectors has impacted the overall Thai economy, said the Joint Standing Committee on Commerce, Industry and Banking, which includes representatives from those sectors.
Last year's growth was 1.9%, lagging regional peers as Thailand grapples with high household debt and borrowing costs alongside China's slow recovery.
Exports, a key driver of the Thai economy, are set to rise 0.8% to 1.5% this year, little changed from a previous estimate for an increase of 0.5% to 1.5%, the group said in a statement.
Shipments face risks from a U.S.-China trade war, but there may be a temporary positive factor amid an acceleration in product orders, it said.
Thai exports rose 7.2% in May from a year earlier, expanding at the fastest pace in four months, according to commerce ministry data.
Shipments increased 2.6% in the January-May period from a year earlier, after falling 1% in the whole of 2023. (Reporting by Orathai Sriring and Kitiphong Thaichareon; Editing by Ed Davies)
