Economics
Thai Economy Turns a Corner as Junta Starts to Boost Investment
- Growth exceeded economists' forecasts in third quarter
- Tourism, state investment supporting economy as exports drag
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Thailand’s economy showed signs of a turnaround with its fastest quarterly growth this year, as the military government’s stimulus spending and a rise in tourist arrivals offset weak local demand and exports.
Gross domestic product expanded 1 percent in the three months through September from the previous quarter, the National Economic and Social Development Board said in Bangkok Monday. That compares with the 0.6 percent median estimate in a Bloomberg News survey of 20 analysts. GDP climbed 2.9 percent from a year earlier, more than the median forecast of 2.5 percent in a separate survey.