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Thailand Growth Surges to Five-Year High as Exports Climb

  • Expansion was 4.8% last quarter, beating all estimates
  • Statistics agency predicts growth of as much as 4.7% this year
City Views As GDP Growth Estimate For Year Is Cut

Photographer: Brent Lewin/Bloomberg

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Thailand’s economic growth surged to a five-year high last quarter, beating all economists’ estimates as rebounding farm output added to gains from exports and private consumption.

Four years after the military seized power, Thailand’s economy is rebounding with growth sustained by a pick-up in exports and tourism. The central bank last week held its benchmark rate near a record low to help support the economic recovery as businesses are still reluctant to invest.