World Economy

Thai Growth Picking Up

Thai Growth Picking UpThai Growth Picking Up

Thailand’s economy likely posted mild quarterly growth over July to September helped by public spending and tourism, but weak exports will continue to hamper a more convincing recovery, Reuters reported. An army coup last May ended months of political unrest, but Southeast Asia’s second-largest economy is still in the doldrums, with exports and domestic demand stubbornly soft. Economists surveyed in a Reuters poll expect gross domestic product in the July-September quarter to have expanded a seasonally-adjusted 0.7% from April to June, when it grew 0.4%. On an annual basis, growth was forecast at 2.6%, slightly slower than 2.8% in the April-June period. The state planning agency is due to publish growth data for the third quarter on Monday. In a bid to lift economic activity, the military government recently approved various stimulus measures aimed at helping rural areas, small firms and the property sector. Public spending and tourism should continue to support the economy but the recovery will likely be slow, with much depending on infrastructure projects, economists say.